Finance
Morning Bid: Only 1,362 days of Trump 2.0 to go
Published by Global Banking & Finance Review®
Posted on April 29, 2025
3 min readLast updated: January 24, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on April 29, 2025
3 min readLast updated: January 24, 2026
Trump's tariffs impact global markets, causing a dollar decline. Traders await signs of US-China trade progress amid economic uncertainties.
A look at the day ahead in European and global markets from Tom Westbrook
As U.S. futures have tiptoed back upwards near early April's levels, it's the dollar that is left licking the wounds of Donald Trump's first 100 days in office as it slides towards its largest monthly drop in years.
Traders have sold the greenback as tariffs threaten U.S. growth, productivity and dynamism, and its role as a safe harbour has come into question while Trump's chaotic communications roil markets.
There are 1,362 days left until the end of his term in 2029.
Tuesday brought a new walkback on parts of the automotive tariffs, which will no longer pile on top of other import levies, though that was greeted warily with European and U.S. futures up only slightly in the Asia session.
Investors are looking for more concrete signs of progress in winding back the de-facto embargo levels of tariffs that the U.S. and China - the world's two biggest economies - have thrown up against each other in April.
Treasury Secretary Scott Bessent told CNBC it was "up to China to de-escalate" while China has held off on stimulus, betting that Washington will blink first.
Still, Trump's concession to automakers might show he is listening to business leaders, and indeed he is scheduled to host more than two dozen executives from Nvidia, Toyota, SoftBank and Hyundai at the White House on Wednesday.
Before that, he is due to hold a rally in Michigan on Tuesday to mark his first 100 days. In Europe, the lights are coming back on in Portugal and Spain after Monday's huge power outage, with the root cause still unclear.
Markets showed little immediate reaction to the victory of Prime Minister Mark Carney's Liberal Party in elections in Canada, where television networks were projecting a minority government.
Euro zone confidence readings and inflation data for Spain and Belgium are due on Tuesday, along with earnings at HSBC and tariff bellwethers such as Adidas and Logitech.
General Motors and Visa report during the U.S. day, ahead of mega-cap earnings at Apple, Amazon, Microsoft and Meta later in the week.
Key developments that could influence markets on Tuesday:
Earnings: Deutsche Bank, HSBC, Amundi, Adidas, BP, Logitech, General Motors, Visa
Economics: Euro zone confidence, Spain and Belgium inflation
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(By Tom Westbrook; Editing by Edmund Klamann)
The article discusses the impact of Trump's tariffs on global markets, particularly focusing on the US dollar's decline.
Traders are cautious, with slight market upticks following a walkback on automotive tariffs.
Key earnings reports and economic data releases are expected, influencing market movements.
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