Another TACO moment?

Monday 14th July 2025

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Over the weekend President Trump announced 30% tariffs on the EU and Mexico starting from August 1st. As NAB’s Taylor Nugent suggests, it’s another delay in the implementation of tariffs and it has stopped the EU from enforcing retaliatory measures planned for this week whilst negotiations continue. More concerning for markets might be the Trump administration’s moves to oust Jerome Powell from his role at the Fed, building a legal case on the cost overrun of renovations!

The focus this week will be on US CPI and Australian labour market data,plus earnings with banks reporting from tomorrow and Netflix later in the week.

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