News

The “Mad Money” host said the uncertain legal fight over Trump’s tariffs could eventually deliver a positive outcome for the market.

• Priot month 2.6%
• Core PCE MoM 0.1% versus 0.1% estimate. Prior month revise to 0.1% from 0.0%
• Core PCE YoY 2.5% versus 2.5% estimate. Prior month revised up to 2.7% from 2.6%.
• PCE MoM 0.1% versus 0.1% estimate. Prior month 0.0%

This article was written by Greg Michalowski at www.forexlive.com.

The U.S. and China in mid-May agreed to a 90-day suspension on most tariffs after Trump slapped sky-high tariffs on the big U.S. trade partner.

• Prior quarter 2.6%
• GDP MoM March x.x% vs 0.1% estimate
• GDP QQ for Q1 x.x% vs 0.6% last.
• GDP QQ annualized x.x% vs 1.7% est.
• GDP Implicit pric QQ for Q1 x.x% vs 0.9% last
• GDP YoY Q1 x.x% vs 2.36%
• GDP MoM Mar

This article was written by Greg Michalowski at www.forexlive.com.

• Prior month -0.2%
• GDP Q/Q +0.5% vs 0.5% prior
• Goods producing industries xx% versus -0.6% last month
• Services producing industries xx% versus -0.1% last month
• Advanced estimate for the month of April +0.1%

Exports of goods drove the growth in the first quarter of 2025, followed
by accumulations of business non-farm inventories. Higher imports and
weak residential structure resale activity tempered overall growth in
the first quarter.

This article was written by Giuseppe Dellamotta at www.forexlive.com.

USTR Greer is on CNBC and says:

• We have other tools if the tariff ruling goes the other way, as well

• Received emails and texts from foreign officials saying, “we are just going to keep negotiating with you as before.”

• Monitoring Chinese compliance — or non-compliance — with trade agreements.

• Expressed concern over China’s non-compliance, stating it must be addressed.

• Holds daily calls with the Indian Trade Minister.

• Has meetings next week with officials from Malaysia, Vietnam, and the EU.

• Noted the lack of expected flow of critical minerals from China.

• Can expand Section 301 tariffs if needed.

• On trade deficit: China is the biggest problem,

• EU is close behind.

• Will meet with EU official next week

This article was written by Greg Michalowski at www.forexlive.com.

• China behaviour is completely unacceptable.
• We have other tools if the tariff ruling “goes the other way” as well.
• Tariffs litigation not hurting trade negotiations.
• I had emails and texts from foreign officials saying, “we’re just going to keep negotiating with you as before”.
• The US is very focused on monitoring China compliance on trade.
• Efforts for a Trump-Xi call ongoing.
• China slow on removing some tariffs countermeasures.
• We have a standing call with the Indian trade minister every day.
• We haven’t seen expected flow of China critical minerals.

This article was written by Giuseppe Dellamotta at www.forexlive.com.