White House has announced that U.S. President Donald Trump will make an “investment announcement” at 1:30 p.m. (1830 GMT) on Monday. However, no further details have been provided about the nature of the announcement. White House representatives were unavailable for immediate comment on the matter, which was noted on the president’s daily schedule.
White House Advisor Navarro said he doesn’t think Trump will change his stance on tariffs. He also mentioned that any inflation caused by tariffs would be a small, secondary effect.
Trump announced that reciprocal tariffs will begin on April 2. Tariffs on Canada and Mexico will start on Tuesday, 4th March 2025. The US dollar has increased against the Canadian dollar, rising 0.15% to 1.4483, and also went up 0.73% against the Mexican peso, reaching 20.676 pesos, after Trump’s tariff announcement.
Trump stated that he doesn’t believe China will retaliate strongly. He also mentioned that he might consider a free trade agreement with Argentina. Meanwhile, Canada’s Foreign Minister warned that if Trump imposes tariffs, they are prepared to respond.
Trump said on Monday that there is no space for Mexico or Canada to avoid tariffs by making a deal to reduce the flow of fentanyl into the United States.
Meanwhile, President Trump has signed an executive action imposing a 20% tariff on China, according to the White House.
Trump Announces TSMC’s $100 Billion Investment in the U.S.
Trump announced that the Taiwanese semiconductor company TSMC plans to invest $100 billion in the United States. Most of this investment will be in Arizona. TSMC will build five more chip factories in the U.S.
Trump also stated that TSMC’s total investment in the U.S. will be at least $165 billion, and the investment will create 20,000 to 25,000 jobs.
Trump Warns Japan and China Against Weakening Their Currencies
U.S. President Donald Trump said on Monday that he warned the leaders of Japan and China against lowering the value of their currencies. He believes such actions are unfair to the United States.
“I spoke with President Xi of China and Japan’s leaders to tell them they cannot keep weakening their currency,” Trump said at the White House.
He explained that when countries like Japan and China deliberately lower their currency’s value, it becomes difficult for American companies, such as Caterpillar, to compete. “It’s hard for us to manufacture things like tractors here when other countries are making their currencies weaker,” he said.
Rather than repeatedly making phone calls to express concerns, Trump suggested that the U.S. could counteract the issue by imposing tariffs. “All these things add up,” he said. “The easiest way to fix this is through tariffs.”
Japan’s Finance Minister Kato said he discussed foreign exchange (FX) matters with his U.S. counterpart. They agreed that exchange rates are determined by the market and shared concerns that excessive volatility could negatively impact the economy and financial stability.
