Morning Economic Report 4/9/25

Trump tariffs kick in with China burdened with punitive measures of 104%. Japan, South Korea, and Vietnam prepare for trade talks, but the US administration appears immovable, for now. Europe readies countermeasures. Talks of recession are getting louder. Central banks are contemplating further rate cuts. The Reserve Bank of India has done so today. Bonds are falling together with equities. Gold is re-gaining its lustre and safe haven currencies, such as the yen and the Swiss francs are strong.