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On April 26, according to the Wall Street Journal, in order to simplify the negotiations on reciprocal tariffs, US negotiating officials plan to use a new framework developed by the Office of the United States Trade Representative (USTR), which lists major categories of negotiations, such as tariffs and quotas, non-tariff trade barriers, digital trade, product origin principles, economic security and other commercial issues. In these categories, US officials will put forward specific requirements for individual countries, but people familiar with the matter emphasized that this document may also be adjusted at any time. People familiar with the matter said that the United States initial plan is to negotiate with 18 major trading partners in turn over the next two months. The initial plan is to alternately participate in the talks with six countries per week for three weeks (six countries in the first week, another six countries in the second week, and another six countries in the third week) until the deadline of July 8. If US President Trump does not extend the 90-day suspension period he set by then, those countries that cannot reach an agreement will begin to face reciprocal tariffs.On April 26, after the United States announced additional tariffs on goods from many countries, Peruvian business people expressed concerns that the US governments extreme measures would disrupt the global trade order and may even trigger a global economic recession. Alvaro Barrenechea Chavez, vice president of the Peruvian-Chinese Chamber of Commerce, said that the negative impact of the US tariff policy has begun to emerge and hoped that the US government would rethink. Recognizing the importance of countries working together to promote development, I think this is the best way to become a true "world citizen."Market news: Musks xAI company plans to raise about US$20 billion in a financing round.Conflict situation: 1. Ukrainian top commander: Russia tried to use air strikes as a cover to increase ground attacks, but was repelled by Ukraine. 2. Ukrainian Air Force: Russia launched more than 103 drones in the night attack on Ukraine. 3. Local officials said Ukraine launched an attack in the Belgorod region of Russia, killing two people. 4. The local governor said that Russia launched an attack on the Dnipropetrovsk region of Ukraine, killing one person and injuring eight people. Peace talks: 1. Trump: ① The situation between Russia and Ukraine is gradually becoming clear, and they are "very close" to reaching an agreement. ② Ukraine is unlikely to join NATO. ③ Ukraine has not yet signed the rare earth agreement and hopes that the agreement can be signed immediately. ④ It is foreseeable that the United States will conduct commercial cooperation with Ukraine and Russia after reaching an agreement. 2. Russian Foreign Minister: Russia is "ready to reach an agreement on Ukraine." 3. Russian Presidential Assistant Ushakov: Russia and the United States will continue to maintain active dialogue. 4. Russian Presidential Assistant: Putin discussed the possibility of resuming direct negotiations between Russia and Ukraine with the US envoy. 5. The differences between the United States, Europe and Ukraine are clear. The documents show that European countries and Ukraine have raised objections to some of the US proposals to end the Russia-Ukraine conflict. 6. Market news: As part of the peace agreement, the United States asked Russian President Putin to abandon the demilitarization requirement. Other situations: 1. President of Hungarys OTP Bank: We hope to return to all business areas in Russia after the (Russia-Ukraine) conflict ends. 2. Ukrainian President Zelensky: US ground forces are not necessary for Ukraine. 3. Trump said Crimea will remain in Russia, Zelensky: Never recognize it. Agreeing with Trumps view, Crimea cannot be recovered by force. 4. NATO Secretary-General Rutte met with Trump and senior US officials to discuss defense spending, NATO summit, and the Ukrainian conflict.Rising global trade risks, overall policy uncertainty and the sustainability of U.S. debt top the list of potential risks to the U.S. financial system, according to the Federal Reserves latest financial stability report released on Friday. This is the first time the Fed has conducted a semi-annual survey on financial risks since Trump returned to the White House. 73% of respondents said that global trade risks are their biggest concern, more than double the proportion reported in November. Half of the respondents believe that overall policy uncertainty is the most worrying issue, an increase from the same period last year. The survey also found that issues related to recent market turmoil have received more attention, with 27% of respondents worried about the functioning of the U.S. Treasury market, up from 17% last fall. Foreign withdrawals from U.S. assets and the value of the dollar have also risen on the list of concerns.

The Front-Runner for The Conservative Party of Canada Would Outlaw a Central Bank Digital Money

Cory Russell

Apr 29, 2022 09:39

Pierre Poilievre, who is running on a promise to make Canada the world's blockchain capital, also said he will guarantee that the central bank's balance sheet is regularly audited, including an examination of the COVID pandemic bond-buying program.


"A Poilievre government would outlaw a central bank digital currency and give Canadians the economic and financial freedom they deserve," he told reporters gathered outside Canada's central bank in Ottawa.


Poilievre, a Conservative member of parliament since 2004, is polling at the top of all surveys ahead of a vote in September to elect a new leader for Canada's largest opposition party. Because Prime Minister Justin Trudeau's Liberals have a political support pact with the New Democrats, a tiny left-leaning party, if he is elected, he will most likely have to wait until 2025 for the next federal election.


When Erin O'Toole was dismissed as Conservative leader in early February after failing to defeat Trudeau in last year's election, the leadership competition was sparked.


Poilievre has blamed Canada's high inflation rate on the central bank's rampant purchases of government bonds in his campaigning, and has said that cryptocurrencies such as Bitcoin are a viable method to "opt-out of inflation."


Officials from the central bank shot down the assertions this week.


"We don't view cryptocurrencies as a vehicle for Canadians to opt out of inflation or as a reliable source of value," said Carolyn Rogers, senior deputy governor of the Bank of Canada, addressed MPs on Monday.


Governor Tiff Macklem also said that the Canadian dollar would continue to be at the heart of the country's financial system.


On Thursday, the Bank of Canada had no quick comment.


For some years, the central bank has been developing a digital currency (CBDC). The CBDC is presently under development, but the federal government will make the ultimate decision on its introduction.


In March, Canada's inflation rate reached a 31-year high of 6.7 percent. In the face of tremendous demand and supply chain restrictions, countries all over the globe are battling with out-of-control pricing. The invasion of Ukraine by Russia has driven up commodity prices, exacerbating the situation.

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