15 April | Dollar

Trump's tariff policy comes under fire from former US Treasury Secretary

Trump's tariff policy comes under fire from former US Treasury Secretary

Janet Yellen, former US Treasury Secretary, has labeled President Donald Trump's tariffs as unreasonable. She described the new administration's trade policy as lacking clarity, suggesting that the American leader's actions are contributing to rising global economic tensions.

The official highlighted falling investor confidence during both Barack Obama's administration and Trump's first term as president. The recent turmoil in bond markets and the weakening dollar have only reinforced her view. However, she believes that current circumstances are not dire enough to warrant immediate central bank intervention.

Yellen expressed confusion over some of the objectives of Trump's tariff campaign, which is based on the trade deficit with each country. She noted that this strategy unfairly impacts economies that have seen their trade deficits grow in recent years, especially those where American companies have diversified their supply chains to reduce dependence on China.

Elena Berseneva MarketCheese
Period: 01.05.2025 Expectation: 1000 pips
GBPUSD to test level of 1.34 again
25 April 2025 52
Brent sell
Period: 01.05.2025 Expectation: 660 pips
Trade uncertainty and excess OPEC+ supply are dragging down Brent
25 April 2025 39
Period: 29.04.2025 Expectation: 600 pips
USDCAD to head towards 1.39400 after rebounding from 1.38200
25 April 2025 32
Period: 02.05.2025 Expectation: 1669 pips
AUDCAD gains on potential easing of trade tensions between US and China
25 April 2025 35
Period: 30.04.2025 Expectation: 12000 pips
ETHUSD set to test upper boundary of downtrend channel
24 April 2025 83
Period: 25.04.2025 Expectation: 500 pips
AUDUSD to fall to 0.63000
24 April 2025 43
Go to forecasts