The Popular Bank of China (PBOC) issued a statement on Friday, citing that the Vice Governor of the Central Bank of China attended the Finance and Vice Governors of Central Banks of ASEAN, China, Japan and South Korea on April 8 and 9.
Key aspects
- The meeting discussed the impact of US tariffs on the global and regional macroeconomic situation.
- The meeting was held to exchange opinions about the economic situation and regional financial cooperation.
- A moderately lax monetary policy will be implemented, the fluid functioning of financial markets will be supported and the continuous recovery of the economy will be consolidated.
Market reaction
The dollar index maintains its recovery above 100.00 after these holders, even with a 0.74% drop in daily terms.
FAQS tariffs
Although tariffs and taxes generate government income to finance public goods and services, they have several distinctions. Tariffs are paid in advance in the entrance port, while taxes are paid at the time of purchase. Taxes are imposed on individual taxpayers and companies, while tariffs are paid by importers.
There are two schools of thought among economists regarding the use of tariffs. While some argue that tariffs are necessary to protect national industries and address commercial imbalances, others see them as a harmful tool that could potentially increase long -term prices and bring to a harmful commercial war by promoting reciprocal tariffs.
During the election campaign for the presidential elections of November 2024, Donald Trump made it clear that he intends to use tariffs to support the US economy. In 2024, Mexico, China and Canada represented 42% of the total US imports in this period, Mexico stood out as the main exporter with 466.6 billion dollars, according to the US Census Office, therefore, Trump wants to focus on these three nations by imposing tariffs. It also plans to use the income generated through tariffs to reduce personal income taxes.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
