Trump's trade ship wreck: Any saviours?
US President Donald Trump has been pitching his tariffs as a way of making the American economy great again. Going by the Organisation for Economic Co-operation and Development's (OECD) latest forecast, though, its growth is set to slow, not accelerate, as a direct consequence of his policies.
Also Read: Trump's tariffs: Turfed out but raring to return
US economic growth is projected to dip to 1.6% in 2025 and 1.5% in 2026 from 2.8% in 2024. Global growth, too, would be set back to 2.9% this year, down from 3.3% in 2024. With the existing trade order in chaos, countries need to urgently strike deals.
Also Read: A trade arrangement that leaves out the US could trump Trump's tariffs
Otherwise, the repercussions would be severe. 'Weakened economic prospects will be felt around the world, with almost no exception," the OECD said. While Trump has stepped back from his country-specific 'Liberation Day" tariffs, which have also run into a legal challenge, average tariffs even after the rollback stand substantially higher than earlier.
Also Read: Mint Quick Edit | America's credit rating slip: How serious?
Worse still, where rates will settle remains uncertain, which hurts business and consumer confidence. Regardless, Trump seems keen to push ahead. Will the federal government's non-executive branches intervene against his self-damaging tariffs? They mustn't forget why they exist.
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Time of India
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Time of India
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The rebound came as tensions between Elon Musk and President Donald Trump appeared to ease, and investors shifted their focus back to Tesla's big-picture innovations — particularly its highly anticipated robotaxi rollout coming later this month. Price : US $301.35 Change : +$16.65 (+5.85%) intraday Today's range : $291.43 – $301.96 Volume : 74.7 million shares traded What's driving Tesla's recovery? 1. Musk-Trump feud cools off Tesla had plunged over 14% on Thursday after reports of strained relations between Elon Musk and Trump, which raised concerns about political and regulatory risks. But with the heat now seemingly dialed down, the stock surged, clawing back a large chunk of those losses. 2. Eyes on the robotaxi launch Investors are increasingly focused on Tesla's next major catalyst: the debut of its robotaxi service , expected around mid-June. The move could open up a new revenue stream and solidify Tesla's place at the forefront of autonomous tech. 3. Technical bounce After falling below key support levels, Tesla stock rebounded sharply from oversold territory. Friday's rally brought it back above $300 — a psychologically important level for many traders. 4. High volume, high interest More than 74 million shares traded hands Friday, signaling strong buying interest and a renewed sense of optimism. Analyst take: cautious optimism Despite Friday's big move, analysts remain somewhat divided. The average 12-month price target still sits around $283–$290 , suggesting the stock could drift slightly lower from current levels. However, many remain bullish on Tesla's long-term growth potential, especially as it moves beyond EVs into AI and autonomous transport. Are tech giants like Tesla, Nvidia, Meta, and Apple leading the charge again? Yes. Tesla jumped more than 3 percent as bargain hunters stepped in after Thursday's plunge. Nvidia, Meta, and Apple each gained over 1 percent, restoring tech leadership and accounting for a big slice of today's index advance. What does the stronger jobs report mean for the Federal Reserve's June 17–18 meeting? With job growth still positive, traders scaled back bets on an immediate rate cut. Futures now imply the Fed will hold its policy rate steady while it waits for clearer signals on how fresh tariffs and cooling service-sector data feed into inflation. Could summer tariffs and weaker services data stall this rebound? Possibly. Weekly jobless claims ticked higher, ADP reported just 37,000 private-sector hires in May, and the ISM's services gauge slipped unexpectedly. Saglimbene cautions that tariff impacts 'should start showing up in the data over the summer,' meaning markets 'are holding judgment on growth and profitability for the next couple quarters.' FAQs: What caused the Dow to rally 500 points today? Stronger-than-expected May jobs data boosted investor confidence. Why did the S&P 500 hit 6,000 again? A tech stock rebound and solid labor market pushed it above 6,000.
