ECB Set for September Rate Hike as Energy Prices Fuel Inflation 
Gold Prices Rise as Yen Rally Weakens Dollar 
China Exports Surge 25% in August as Trade Surplus Hits $119 Billion 
US Stock Futures Mixed as Fed Rate Hike Bets Rise 
China Boosts Gold Reserves by 650,000 Ounces as Prices Rally 
Oil Prices Rise as Hormuz Tensions Threaten Supply 
Asian Currencies Mixed as Yen Rallies on BOJ Bets 
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JPMorgan Sees ECB Raising Rates to 2.75% in December 
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Starting March 4, 2025, new tariffs will be imposed on Mexican, Canadian, and Chinese imports by the United States. The President has expressed a tariff of 25% on almost all imports from Mexico and Canada and a reduced tariff of 10% for Canada's energy supplies. Furthermore, an extra 10% tariff will be put on all imports from China, making the total tariff 20%.
The Trump administration contends the tariffs are intended to slow the entry of illegal aliens and illegal drugs, specifically fentanyl, into the United States. The administration would like to pressure Mexico, Canada, and China to end illegal immigration and drug smuggling. The actions are part of President Trump's ongoing push to prioritize national security and employ trade policy to promote American interests.
These tariffs have a general impact that is expected on the economy, including possible Canadian, Mexican, and Chinese retaliation. Economists cautioned these tariffs tend to drive prices upwards to consumers and to introduce instability in financial markets. Businesses could be forced to revisit supply chain planning approaches and pricing models to accommodate them
