Trump’s new tariffs and inflation data: Key impacts.

New tariffs, rising inflation, and Fed policies shape the global economic outlook.

Week of February 10 to 14 

President Trump announced a 25% tariff on steel and aluminum imports from several countries, including Mexico, Canada, and Brazil. Meanwhile, U.S. inflation rose 0.5% month-over-month in January and 3.0% year-over-year, exceeding expectations. Jerome Powell reaffirmed that the Fed will not rush to cut rates anytime soon 
 
Global highlights: 

• EU: Warned of countermeasures against new U.S. tariffs. 
  
• Germany: Exports increased, but industrial production declined. 

• UK: Unexpected 0.1% GDP growth in Q4 2024. 

• Japan: Wholesale inflation reached 4.2%, the highest in seven months. 

• China: Inflation saw its highest increase in five months, but manufacturing remains weak. 

• Brazil: Adopting a cautious approach to U.S. tariffs; the services sector ended 2024 with weak performance. 

• Mexico: Rate cuts may continue, while Moody’s warns of risks to the auto sector due to new tariffs. 

Markets will closely monitor the impact of these developments on global monetary policies and key industries. 

Important events in the coming weeks 

• In the United States, the Fed minutes will be released on 02/19. 

• In the United States, the Consumer Confidence report will be released on 02/21.  

Monitor