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Trump Joins Japan Trade Talks as Fed Warns of Tariff Fallout

President Trump claims progress in negotiations with Japan, while Federal Reserve Chair Powell highlights risks of inflation and slowed growth from escalating tariffs.

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During a speech at the Chicago Economic Club Federal Reserve chair Jerome Powell said the central bank was focused on ensuring price increases caused by President Donald Trump's tariffs didn't persist.
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Overview

  • President Trump personally participated in trade discussions with Japan, expressing optimism about reaching a deal before the 90-day tariff pause ends in July.
  • Federal Reserve Chair Jerome Powell warned that unprecedented tariff levels could lead to higher inflation, weaker economic growth, and increased market volatility.
  • Major tech companies, including Nvidia and AMD, reported billions in losses due to new U.S. export restrictions on semiconductor sales to China.
  • U.S. stock markets experienced sharp declines, with the Nasdaq falling over 3%, driven by uncertainty surrounding tariffs and export restrictions.
  • The World Trade Organization projected a 0.2% decline in global trade for 2025, citing the disruptive impact of ongoing tariff policies and trade tensions.