China Raises Tariffs on US Goods to 84%
In an official announcement published on April 9, the Customs Commission of the State Council of China announced that it would increase the tariff rate on imported goods from the US from 34% to 84%. This step is seen as a direct retaliation to the reciprocal tariff policies implemented by the US. The increase represents a significant hardening of China’s trade defence strategy.
Former Treasury Secretary Summers: Tariffs Could Drag the US into a Financial Crisis
Former US Treasury Secretary Larry Summers warned on social media that the Trump administration’s aggressive tariff policies could trigger a serious financial crisis. Summers stated that this situation, combined with the growth of government debt, budget deficit and dependence on foreign capital, could create a vicious cycle. He emphasized that the only way to prevent the crisis is to abandon current trade policies.
Swedish MPs Propose Bitcoin as a Reserve Currency
Swedish MP Rickard Nordin has called for Bitcoin to be included among the official reserve currencies as part of the country’s plan to diversify its foreign exchange reserves. The proposal was raised in a written inquiry submitted to the Swedish Parliament. The request supports the idea that the place of digital assets in Sweden’s financial system should be reassessed.
Goldman Sachs: US Stocks May Enter Cyclical Bear Market
The latest analysis published by Goldman Sachs suggests that US equities could evolve from an event-driven bear market (due to tariffs) to a cyclical bear market. According to the analysis, such cycles usually last for two years and markets can take up to five years to recover. The average depreciation is estimated at around 30%. The growing risk of recession makes this possibility even more likely.
by Darkex Research – 1 min read
