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'Just to shock everyone': Trump threatens Switzerland, E.U. with massive tariffs
MSNBCยท2025-08-06 04:30

Trade Tariffs and International Relations - The US president is escalating global trade tariff war, potentially increasing costs for products from countries like Switzerland [1] - The president threatened the EU with a 35% tariff if it does not invest $600 billion in the United States, and is rolling out new tariffs on semiconductor and pharmaceutical imports [2] - The president's strategy involves raising tariffs to extract more concessions from other countries, such as the EU, Japan, and South Korea [4] - The administration views tariffs as a source of revenue and leverage on the world stage, leading to unpredictable trade moves [7] - Trade disruptions caused by tariff policies are negatively impacting economic activity both domestically and globally [9] Federal Reserve and Monetary Policy - The Treasury Secretary does not want to succeed Jay Powell as the Fed chair, but others are in the running [10] - Potential candidates for Fed chair include Kevin Warsh, who is respected by Wall Street, and Kevin Hasset, who is loyal to the president [11][12] - The president may prioritize loyalty over market approval when choosing the next Fed chair [12] - Governors Waller and Bowman dissented from the Fed's decision to leave rates unchanged, advocating for lower rates [14] Banking and Regulatory Issues - The White House is reportedly preparing an executive order to punish banks that it claims discriminate against conservatives [15] - The president accused JP Morgan and Bank of America of discriminating against him by not taking his accounts [16] - Banks and the White House generally agree on a deregulatory agenda [17]