US EditionTrump’s tariff war roils typically quiet corner of global markets
- Taiwan's currency gained about 8% against the US dollar over two trading sessions ending Monday in Hong Kong amid volatile market conditions.
- The gain followed speculation that Taiwan made currency concessions to the White House during ongoing trade talks linked to President Trump's efforts to rebalance global trade.
- Taiwan's central bank governor Yang Chin-long hastily held a press conference Monday to deny rumors that Taiwan agreed to strengthen its currency in exchange for tariff exemptions.
- Hong Kong's de facto central bank spent a record HK$60.5 billion to buy US dollars as its currency reached the strong end of the trading band, showing regional currency market reactions.
- These currency fluctuations illustrate the far-reaching effects of Trump's trade war, with analysts noting the US dollar's weakened reputation may cause it to trend lower globally.
24 Articles
24 Articles
Trump’s tariff war and the breakdown of global capitalism
This speech was given by Nick Beams, a longstanding leader of the International Committee of the Fourth International and an expert on Marxist economics, at the International May Day 2025 Online Rally, held Saturday, May 3.
Trump's speech at Tokyo press club 32 years ago proved prophetic
In April, the US president, Donald Trump, announced a policy of reciprocal tariffs, arguing that America had been taken advantage of by “cheaters” and “pillaged” by foreigners. Since then, stock markets around the world have plummeted, and concern has spread that Trump’s moves will trigger a recession that risks bringing down the system of trade […] The post Trump’s speech at Tokyo press club 32 years ago proved prophetic appeared first on Asia …
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