Good morning! The weekend is over and so is the relative what-heft-trump-nu-weather-per-decree-close rest. On the plane to the Superbowl, the American president told journalists that he intends to be this Monday On all the steel and aluminum that enters the United States to impose a levy of 25 percent.
Trump also introduced such a tax during his first term (then 10 percent on aluminum, not 25), but he and successor Joe Biden subsequently made exceptions for neighboring countries Canada and Mexico, the European Union, United Kingdom and Japan . Trump further announced every country that, in his eyes, cancel an unfair levy to the US, from somewhere this week to give a counter -tax. Trump has been complaining for some time that, for example, the EU on American cars raises 10 percent taxes (the other way around is 2.5 percent).
At the Asian scholarships, most plates colored black despite the announcement. However, lost steel companies somewhat of their value and the rates of steel, aluminum and copper went up. The dollar rose compared to the yen. The stock markets responded according to an analyst The Wall Street Journal so ‘calm’ Because the (later partially withdrawn) steel taxes in Trumps first term did not lead to major problems in the Asian economies.
What did we notice further?
- It was not completely quiet this weekend in the US. On Sunday it was announced that the new director of the financial consumer watchdog CFPB has informed his employees that all the work is being stopped. The relatively young watchdog (13 years) oversees The supervision of lending to consumers by, among others, banks, credit card companies, debt buyers and profit -oriented educational institutions.
- The steel levy was not the only news this Monday on the ‘front’ of Trump’s commercial stitch game. In a separate interview with news channel Fox, he said he thinks so Canada and Mexico do not do enough about the border control promised by the countries. That promise was the reason last week to give the two countries a month respite to the general trading tax of 25 percent.
- BMW continues to invest in the development of gasoline and diesel cars And hybrid techniques, now in the US the transition to fully electric cars with the arrival of Trump is at least delayed. That said a driver of the German car manufacturer to the Financial Times.
- The activist shareholder Elliott has built up a share in the British oil company BP, Sources say to the FT. How high the share is is not yet known. According to sources, Elliott might argue for split the oil giant or a merger (with Shell as the main candidate). BP could also be forced to invest less in sustainable projects. Elliott had shares in NN and AkzoNobel in the Netherlands.
- The once rich pension fund of the former De Nederlandse Staatsmijnen, now DSM, appears to have given all kinds of discounts to the company in recent decades. Former employees saw their pensions blast thisdiscovered NRC colleagues Jeroen Wester and Merijn Rengers. The ombudsman pensions is very critical about the state of affairs.
Read the blog here from last Friday:
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