The Philippines was one of several countries to receive letters from Trump earlier this month, warning of 20% tariffs on all goods entering the US starting 1 August, an increase from an earlier 17% threat. 

‘Tough negotiator’: Trump says trade deal with Philippines ‘very close,’ praises Marcos Jr; slams Fed chair as ‘numbskull’

Once again, the US president slammed Jerome Powell, this time for choking out housing market with their high rate, as he says that he was one of his worst appointments. Trump said that not even the Fed Board did anything to stop him from hurting people.

'One of my worst appointments’: Trump again lashes out at Jerome Powell for ‘choking out’ US housing markets

Beyond Fed jitters, markets remain preoccupied with trade policy. As per Reuters, investors are closely watching the August 1 deadline, when higher US tariffs are set to hit several trading partners.

Dollar under strain as Trump’s threat to fire Fed chief shakes market confidence

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‘Tough negotiator’: Trump says trade deal with Philippines ‘very close,’ praises Marcos Jr; slams Fed chair as ‘numbskull’

'One of my worst appointments’: Trump again lashes out at Jerome Powell

Dollar under strain as Trump’s threat to fire Fed chief shakes market confidence