Confirming you are not from the U.S. or the Philippines

By giving this statement, I explicitly declare and confirm that:
  • I am not a U.S. citizen or resident
  • I am not a resident of the Philippines
  • I do not directly or indirectly own more than 10% of shares/voting rights/interest of the U.S. residents and/or do not control U.S. citizens or residents by other means
  • I am not under the direct or indirect ownership of more than 10% of shares/voting rights/interest and/or under the control of U.S. citizen or resident exercised by other means
  • I am not affiliated with U.S. citizens or residents in terms of Section 1504(a) of FATCA
  • I am aware of my liability for making a false declaration.
For the purposes of this statement, all U.S. dependent countries and territories are equalled to the main territory of the USA. I accept full responsibility for the accuracy of this declaration and commit to personally address and resolve any claims or issues that may arise from a breach of this statement.
Cancel Confirm
We are dedicated to your privacy and the security of your personal information. We only collect emails to provide special offers and important information about our products and services. By submitting your email address, you agree to receive such letters from us. If you want to unsubscribe or have any questions or concerns, write to our Customer Support.
Confirm
Octa trading broker Sign up Log in
Trading news
Back
23 Apr 2025

US: How much revenue can tariffs bring? – Standard Chartered

Tariff revenue won't compensate for the fiscal costs of TCJA extensions. Added tariff revenues will be below 1% of GDP – most likely 0.5-0.9% of GDP. Unfunded tax cuts could put further upward pressure on US rates, Standard Chartered's analysts report.

Everything everywhere all in the reconciliation bill

"The Trump administration argues that higher tariffs will pay for tax cuts. Despite the worse-than-expected tariff announcement on ‘Liberation Day’, the administration’s 90‑day tariff pause and rhetoric since then suggest that the worst-case tariff scenario has already played out and we expect tariff rates to be negotiated down in the coming months."

"Assuming tariff negotiations lead to tariff rates of 60% on China, 10% on the rest of the world (ROW), and minimal tariffs on Canada and Mexico, realistic tariff revenues are likely to be under 1% of GDP and possibly well below. We think tariff revenues will fall well short of financing the extension of the current Tax Cuts and Jobs Act (TCJA), with an estimated cost of 1.4% of GDP as estimated by the Joint Committee on Taxation (JCT)."

"It is still uncertain whether tariff revenues can be included in the baseline for the reconciliation bill. Normally, only legislated tariffs would be seen as permanent enough to be a ‘pay-for’. Moreover, arguing that the executive orders will raise tariffs permanently may weaken the government’s position if legal challenges arise. But even if these non-permanent tariff revenues are included, the administration will likely need to find savings elsewhere. This is especially the case if the intention is to add tax cuts that go beyond the TCJA. Long-term rates now seem to be reacting more to deficit slippage than in 2017 when the TCJA was passed."


Apr 23, 2025

United States EIA Crude Oil Stocks Change came in at 0.244M, above expectations (-0.7M) in April 18

United States EIA Crude Oil Stocks Change came in at 0.244M, above expectations (-0.7M) in April 18
Read more Previous
Apr 23, 2025

GBP/USD slips beneath 1.3300 as USD gains on Powell relief and trade optimism

The Pound Sterling depreciated against the Greenback on Wednesday yet slightly recovered after diving to four-day lows of 1.3230. Traders seemed relieved that US President Donald Trump, although angry with Fed Chair Powell, is not looking to sack him.
Read more Next