The US federal court moved to temporarily reinstate reciprocal tariffs on FridayThat follows from Trump's appeal, so the ruling by the trade court is paused in the meantime However, the plaintiffs are ordered to respond by 5 June and the administration by 9 JuneTrump has now called for a longer pause amid ongoing trade negotiationsAnd he has also warned countries to make their "best offers" by 4 JuneAs much as Trump's aides have talked about closing trade deals, we're still yet to see any until nowThe supposed "easier" negotiations with Japan and India continue to run into roadblocksThere is now just 36 days to go for trade deals to be struckAnd despite a "truce" period with China now, it doesn't seem like talks are going anywhereUS claims that Trump and Xi will "likely" speak this week but China remains silent on the matter
On that final point, go figure. When it comes to analysing Trump and the narrative he wants to sell, always remember that there are two sides to the coin.
Plenty of questions. Not much answers. That pretty much sums things up.
And in the case of the US dollar, that's not a good sign of confidence for a currency that is already lacking in that department amid the ongoing policy incoherence and uncertainty.
This article was written by Justin Low at www.forexlive.com. Read More Details
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