Trump Criticizes the UK Energy Windfall Tax
U.S. President-elect Donald Trump has labeled the windfall tax imposed on oil and gas companies in the United Kingdom as a “grave mistake,” urging the reopening of the North Sea for production and abandoning reliance on wind turbines.
Contents
Trump
Trump’s criticism came following the announcement by Keir Starmer’s government to extend the tax until 2030 and increase it to 38%,
bringing the total taxes on producers to 78%.
He pointed out that such policies have prompted companies like the U.S.-based Apache Corporation
to consider exiting the North Sea due to the lack of economic feasibility.
These policies starkly contrast with Trump’s plans to bolster oil and gas production in the United States,
highlighting a clear divergence in approach between the two sides.
The Dollar
Dollar Declines as Markets Await Trump’s Policies and Economic Data
The dollar weakened against most major currencies during trading last Friday but remains close to its highest level in over two years,
recorded on Thursday.
Markets are closely watching the inauguration of U.S. President-elect Donald Trump later this month,
with his anticipated policies—particularly on trade—creating a sense of uncertainty among investors.
Key areas of market interest include his protectionist stance toward the Eurozone,
Canada, and China, along with his views on cryptocurrencies and the U.S. dollar.
On the economic data front, government figures released today showed that the Institute
for Supply Management’s Manufacturing PMI rose to 49.3 points in December,
up from 48.4 points in November and exceeding expectations of 48.2 points.
Mike Johnson
Mike Johnson Re-Elected as U.S. House Speaker with Trump’s Backing
The U.S. House of Representatives re-elected Republican Mike Johnson as Speaker after
he secured the required majority of votes on Friday.
Initially, Johnson faced challenges during the voting process,
failing to secure the necessary 218 votes as three Republican members cast their votes for other candidates.
However, after discussions with Representatives Ralph Norman and Keith Self,
both decided to shift their votes in his favor, allowing him to surpass the threshold needed for victory.
Johnson ultimately triumphed over Democratic rival Hakeem Jeffries, who garnered 215 votes,
while a total of 434 members out of 435 attended the session.
This victory followed President-elect Donald Trump’s call for Republicans to support Johnson
and maintain their commitment to his leadership of the House.
Trump Criticizes the UK Energy Windfall Tax