Trump fills the market with information in 30 minutes: tariffs, Russia-Ukraine, huge investments
On Monday local time, US President Trump announced at a press conference that Taiwan Semiconductor Manufacturing Co (TSM.N) will invest $100 billion in the United States. He also stated that the US will impose a 25% tariff on Canada and Mexico from the 4th of this month, claiming there is no room for negotiation with these two American allies. In response, Canada's Foreign Minister said they are prepared to levy tariffs on Canadian goods worth $155 billion. Additionally, Trump mentioned that starting from April 2nd, the US will adopt reciprocal tariffs and impose sanctions through tariffs on countries using currency devaluation measures.
The press conference lasted about 30 minutes amidst reporters' questions. Earlier, Trump had revealed plans to levy tariffs on agricultural products from April 2nd. Regarding the Russia-Ukraine conflict, he said despite his public dispute with Zelensky, mineral trade deals with Ukraine have not been called off yet and there has been no talk of suspending military aid to Ukraine.
Trump hinted that if Zelensky does not agree to sign a ceasefire agreement his presidency may be at risk. He will update progress regarding mineral agreements on the evening of the 4th. Furthermore concerning US-Russia relations; reports suggest that America is drafting a plan which could potentially grant Russia sanction exemptions.
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