The Week in Numbers: Tariffs, Gold, China GDP, and ECB Rate Cut

US Tariffs on China

• 🎯 Donald Trump indicated that US tariffs on China might not go higher than 145%, and he is open to reducing them.
• 🤝 He expressed hope for striking trade deals with both China and the EU.

Nvidia and AI Chips

• 📉 Nvidia is taking a $5.5 billion charge due to US restrictions on its sales to China.
• ⚠️ US officials are concerned that Nvidia's advanced AI chips could be used to build supercomputers.

European Central Bank Rate Cut

• 🏦 The European Central Bank (ECB) cut interest rates by a quarter of a percentage point, its seventh reduction in a year.
• 📈 ECB President Christine Lagarde cited increasing trade tensions as a downside risk to the Eurozone's economic growth.
• 🗣️ Donald Trump urged the US Federal Reserve to cut rates, criticizing Chair Jerome Powell for being too slow.

China's GDP and Exports

• 📈 China's GDP grew by 5.4% in the January-March quarter, exceeding analyst expectations.
• 🚢 Economists suggest this growth was boosted by a surge in exports, likely driven by shippers trying to beat US tariffs.
• 📉 Future GDP figures may decline as Trump's tariffs take effect.

Gold Prices Surge

• 🥇 Gold hit a fresh record high, surpassing $3,300 per ounce.
• 🛡️ Investors are flocking to gold as a safe-haven asset amidst market turmoil.
• 📉 The weakening US dollar has also contributed to gold's rise, making it cheaper for those holding other currencies.