03 April 2025: 09:30 BST
As The Officials keep saying, along with every respected economist, tariffs are not good for the economy! Today, the world and its people will become poorer, and Tariff Man will eventually understand the people he promised to protect will end up paying the price of his hubris. And the administration published some clearly erroneous tariff numbers as justification. They added the import value and divide by the export value which leads not to tariff rates but crazy numbers. It doesn’t seem a great way to manage major economic policy… For China, for example, the additional 34% rate, equals the US deficit with China of $291.9 billion, divided by total imports from China of $433.8 billion, then divided by 2 again!
In ‘The Officials’, Onyx Capital Advisory publishes outright values, spreads, cracks and boxes for the main energy commodities traded in the marketplace. The published values are determined independently and on a fair market basis by our team of dedicated professionals.
We invite you to read our reports, which will initially be published twice a day, reflecting closing values at 16:30 Singapore time (SGT) and at 16:30 London time (GMT/BST).
For any comments, please reach out to us through the emails provided in the signed documents.
