Who gets to set tariffs?

The US economy contracted by 0.2% in the first quarter of 2025, fueling ongoing recession concerns amidst escalating trade tensions and mixed economic indicators. Technology giant NVIDIA posted strong quarterly results, providing a much-needed boost to market sentiment. US courts are deliberating on the authority to impose tariffs, with the decision pending between President Trump and the Senate. President Trump held his first meeting with Federal Reserve Chairman Jerome Powell since taking office, marking a significant encounter. US Treasury Secretary Scott Bessent described the US-China trade negotiations as "a bit stalled," which is exerting downward pressure on Asian markets today. Tim Gagie, Head of FX/PM PB Sales in Geneva, notes that the US dollar remained range-bound throughout the week and provides his thoughts on the tariff news.00:00 Introduction by Bernadette Anderko (Investment Writing)00:27,5 Markets wrap-up by Mike Rauber (Investment Writing)06:04 FX and metals markets by Tim Gagie (Head of FX/PM PB Geneva)10:04 Closing remarks by Bernadette Anderko (Investment Writing)Would you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or your favourite podcast player.