🧳 U.S. & China Resume High-Level Trade Talks
For the first time since the U.S.–China trade war escalated, top officials will meet this weekend in Switzerland. Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer are set to meet with Chinese counterparts as tariffs between the two nations reach staggering levels — 145% from the U.S. and 125% from China. Bessent called the current trajectory “unsustainable” and emphasized the goal of fair trade, not decoupling.
💱 Asian Currencies Surge as Dollar Demand Drops
A sharp decline in U.S. dollar demand is fueling a surge in Asian currencies, led by a record rally in the Taiwan dollar. Analysts are calling it an “Asian crisis in reverse,” as nations shift away from recycling trade surpluses into U.S. assets — a long-standing support for dollar dominance. Heavy trading volumes have stressed markets, as Trump’s tariffs continue to disrupt global flows and investor confidence in U.S. policy wanes.
🏦 India Doubles Gold Reserves as Share of Forex
India’s gold reserves now account for 11.7% of its total foreign exchange holdings — up from just 5.9% in 2021 — reflecting a broader trend among central banks. The Reserve Bank of India holds nearly 880 metric tons of gold, with 58% stored domestically. The shift comes amid rising global debt and volatile capital flows, signaling growing concern over fiat stability.
⚖️ Louisiana Bill Would Make Gold and Silver Legal Tender
A new bill in Louisiana proposes recognizing gold and silver as official currency. House Bill 386, introduced by Rep. Raymond Crews, outlines how precious metals would be used and stored — remaining the property of the depositor and immune from state investment. The legislation is designed to be budget-neutral and would make Louisiana the latest state to explore sound money reform.
📉 Trump Pressures Fed to Cut Rates — But Will It?
President Trump is calling on the Federal Reserve to lower interest rates, criticizing the central bank for being “TOO LATE AND WRONG.” But with inflation still elevated, analysts expect the Fed to hold steady at its current 4.25%–4.5% range. The next decision comes later today, and CME FedWatch shows a 97% chance interest rates will remain unchanged.
