Since becoming the President of America, Donald Trump has been in the news for his statements and decisions. In fact, US President Donald Trump said something in his address through video conferencing during the World Economic Forum (Trump crude oil statement) that caused a stir in the global markets. Let us tell you that during the video conferencing, he appealed to Saudi Arabia and OPEC to reduce oil prices. Trump argued that if oil prices come down, the Russia-Ukraine war can end immediately. It is worth noting that after his statement, crude oil prices are seeing a decline. Trump’s statement has affected not only the American but also the global markets (Trump impacts oil market). Needless to say, on one hand, the fall in crude oil prices can provide relief to the general public, while on the other hand, it can also bring new opportunities for investors.
This appeal was made to Arab and OPEC countries as well as the Federal Reserve
To promote investment in America, President Donald Trump has promised to give tax cuts to companies (Trump crude oil statement). Trump said that “he will cut taxes for companies investing in America. And companies that do not invest will be charged higher import duty (tariff). US President Trump also requested the Federal Reserve to reduce interest rates further. He said that “low interest rates will give more speed to the US economy. This is the reason why he is trying to reduce interest rates. Not only this, Trump also said in his address that “he will urge Saudi Arabia and OPEC to reduce oil prices.” He believes that this will provide relief to the global economy and the Russia-Ukraine war can end.
Fall in crude oil prices
Meanwhile, the interesting thing is that soon after Trump’s statement, there was a fall in crude oil prices (Trump impacts oil market). West Texas Intermediate fell 1.1% to $74.62 per barrel and Brent crude fell 0.9% to $78.29 per barrel. Apart from this, the US stock market also saw a rise on Thursday after Trump’s statement. The S&P 500 index made a new record so far with tremendous growth. The important thing is that despite the initial decline, the S&P 500 index closed at a new record level of 6,118.71 with a gain of 0.5%.
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Rise recorded in Frankfurt and Paris Stock Exchange after Trump’s statement
A mixed trend was seen in European markets. After Donald Trump’s statement, there was a rise in the Frankfurt and Paris Stock Exchange, while a slight increase was seen in the London Stock Exchange. Apart from this, the rate of euro against the dollar came down to $1.0415, while the Japanese Yen came down to 156.03 per dollar, which shows that instability remains in the markets. However, China has also taken new steps to bring stability in its stock market. In which pension funds have been allowed to invest in stocks and companies have been encouraged to buy shares.
China worried over the decision to impose tariffs
Let us tell you that after the statement of US President Donald Trump, there was a decline in the stock market of China. Trump said that “the decision to impose a 10% tariff on goods imported from China is under consideration and it can be implemented next month.” After this statement of Trump, the CSI 300 index fell after four days of gain. Although investors were hoping that Trump would not take strict action on tariffs immediately, his statement caused a market upheaval. Now it remains to be seen whether these statements of Trump have an effect in the coming days.
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Investors welcomed the promise of corporate tax cuts
The good thing is that investors wholeheartedly welcomed US President Donald Trump’s promise of corporate tax cuts (Trump impacts oil market). Not only this, investors have taken Trump’s tax cut policy positively. Investors believe that this will benefit American companies and foreign investment can be diverted towards America. Let us tell you that the rise in the American market also affected the Asian markets. Tokyo Stock Exchange registered a gain of 0.8%, and Shanghai Composite rose by 0.5%.
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