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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Julius Wong who wrote (210404)	1/20/2025 11:18:50 PM
From: TobagoJack	Respond to of 219967

one-off inflation in the barrel bloomberg.com Trump Plans to Enact 25% Tariffs on Mexico, Canada by Feb. 1 - President threatens duty for fentanyl, undocumented migration - Trump speaks in first Oval Office comments after inauguration President Donald Trump signs executive orders in the Oval Office of the White House in Washington, DC, on Jan. 20. Photographer: Jim Watson/AFP/Getty Images President Donald Trump said he planned to enact previously threatened tariffs of as much as 25% on Mexico and Canada by Feb. 1, reiterating his contention that America’s two immediate neighbors are allowing the flow of undocumented migrants and drugs into the country. “We’re thinking in terms of 25% on Mexico and Canada, because they’re allowing vast numbers of people,” into the country, Trump said in response to questions from reporters, as he sat behind the Oval Office’s Resolute Desk on Monday night. “I think we’ll do it February 1.” Trump’s plans for tariffs on two nations vital for US energy and auto imports threatens to set off a trade war among the signatories of the US-Mexico-Canada Agreement, the successor to Nafta negotiated at Trump’s insistence during his first term. The pact governed the flow of $1.8 trillion in goods and services trade, based on 2022 data. Both Canada and Mexico have said they’d retaliate against American goods if Trump slaps tariffs on them. The USMCA is up for review in 2026. “Canada’s a very bad abuser,” Trump said, complaining about the current of fentanyl and migrants across the northern US border. The dollar jumped against most major currencies following Trump’s remarks. Bloomberg’s dollar gauge rose as much as 0.7%, the most since Dec. 18, as investors sought haven assets. The Canadian dollar and Mexican peso fell more than 1% against the greenback on the news. Tariffs of the magnitude that Trump is proposing would spell “disaster” for the US auto industry and Detroit’s carmakers, each of which import a significant number of vehicles from Canada and Mexico, Bernstein analysts said in a November research note. Stellantis NV imports about 40% of the vehicles they sell in the US, while General Motors Co. imports roughly 30% and Ford Motor Co.25%, they said at the time. The additional levies would hit about $97 billion worth of auto parts and 4 million finished vehicles that come into the US from those countries, and could boost average new-car prices by about $3,000, according to Wolfe Research. Trump also indicated he was still considering a universal tariff on all foreign imports to the US, but said he was “not ready for that yet.” “You’d put a universal tariff on anybody doing business in the United States, because they’re coming in and they’re stealing our wealth,” he said, adding that implementation could be “rapid.” President Donald Trump said that he plans to enact tariffs of as much as 25% on Mexico and Canada by February 1. In a Nov. 25 post on Truth Social, Trump warned he’d impose 25% tariffs on all Mexican and Canadian imports as “one of my many first Executive Orders” and said it “will remain in effect until such time as Drugs, in particular Fentanyl, and all Illegal Aliens stop this Invasion of our Country!” Those tactics set off a scramble in Mexico City and Ottawa to demonstrate to the incoming president that both governments were addressing his concerns. Within days, Prime Minister Justin Trudeau, who has since said he’s stepping down, flew to Florida to impress upon Trump that the number of migrants who cross the country’s border into the US is small, and that Canada is also working closely with the US to stop drug smuggling. Canada has also drawn up an initial list of C$150 billion ($105 billion) of US-manufactured items that it would hit with tariffs if the first salvo comes from Trump, who has taunted Canadians with an invitation to become the 51st US state. “None of this should be surprising. The one thing we’ve learned is that President Trump at moments can be unpredictable,” Dominic LeBlanc, Canada’s finance minister, told reporters shortly after Trump’s comments. The Canadian government will keep talking about border security and other issues with the Trump administration, LeBlanc said. “In our conversation with American officials, we have spoken about our shared commitment to the fight against fentanyl, to ensuring that immigration is orderly and legal.” In December, Trudeau’s government presented a plan to spend about $1 billion on additional measures such as more helicopters and drones for near the border. Mexico has sought to avoid the imposition of tariffs, taking actions to placate Trump including seeking to reduce imports from China and carrying out a record fentanyl seizure. Mexican President Claudia Sheinbaum’s government has said the tariffs could affect the $800 billion of annual trade between the countries and would potentially drive inflation in the US.

To: Julius Wong who wrote (210404)	1/20/2025 11:23:15 PM
From: TobagoJack	Respond to of 219967

:0))) wonder what is there to be studied. Just do it and find out what happens bloomberg.com Trump Holds Off on Immediate China Tariffs, Calls for Study - Incoming US president has moderated China tone in recent weeks - Day one action will call for studies on China, Mexico, Canada By Jenny Leonard 20 January 2025 at 22:21 GMT+8 Updated on 21 January 2025 at 09:22 GMT+8 President Donald Trump held off unveiling China-specific tariffs on his first day in office, instead ordering his administration to address unfair trade practices globally and investigate whether Beijing had complied with a deal signed during his first term. The moves — detailed in a fact sheet that is not yet public — are aimed at “reversing the destructive impact of globalist, America last trade policy,” according to a copy seen by Bloomberg News. The fact sheet also called for key federal agencies to address currency manipulation by other countries. “This action underscores the administration’s dedication to reducing dependence on foreign nations for critical supply chains and reinvigorating the U.S. industrial base,” the fact sheet said. During an impromptu press conference in the Oval Office as he signed executive orders on Monday night, Trump avoided committing to a plan for Chinese tariffs. The new president at times indicated that he did plan to impose tariffs because of China’s role exporting fentanyl precursor chemicals, as well as his anger over Chinese influence on the Panama Canal. “We’re not going to allow that to happen,” Trump said. And Trump threatened countries in the BRICS grouping — which includes China — with increased tariffs, and indicated he could also impose taxes on Chinese goods if Beijing blocked the sale of the social media app TikTok to a US entity. But at the same time, Trump declined to say what date he would impose additional tariffs and said he would be having “meetings and calls” with Chinese President Xi Jinping. The decision not to immediately target Beijing on Monday reflects a shift by the incoming president into a negotiating mode and an eagerness to cut another deal with Chinese President Xi Jinping, according to a person familiar with the decision who asked not to be identified discussing private deliberations. The move could set the stage for trade duties in the coming weeks or months but it will come as a relief for some companies that had feared the tariffs would be imposed from the start. On the campaign trail, he promised a 10% to 20% charge on all imported goods and 60% on Chinese products. He also vowed a 25% tariff on all products from Canada and Mexico, and an additional 10% duty on Chinese goods. Some people familiar with the decision cautioned that Trump often quickly changes his mind on strategy and could decide again to push forward with his original plans to target China. Still, Monday’s actions suggest a more deliberate approach than the fiery rhetoric about tariffs Trump offered during his campaign last year. And he made clear in his inaugural address that tariffs were on the way. “Instead of taxing our citizens to enrich other countries, we will tariff and tax foreign countries to enrich our citizens,” Trump said in the speech. On the US-Mexico-Canada Agreement, Trump is set to direct his cabinet secretaries to assess its impact on American workers and businesses and make recommendations on whether the US should continue participating in it, according to the document. Trump in his last term replaced the North American Free Trade Agreement with USMCA and has often called it the best deal ever negotiated. Earlier, Trump had said he could sign as many as 100 executive actions on Monday. His officials said those orders will also include measures to curb inflation and cut regulations, particularly those related to oil and gas production. Trump also directed agencies to study the feasibility of an external revenue service — a new agency that would collect tariff revenue — and to recommend how to design and implement it. It’s unclear how that’ll be different than the existing federal system under which the Treasury secretary establishes tariff collection rules and Customs and Border Protection administers them at ports of entry. Donald Trump speaks during the 60th presidential inauguration on Jan. 20.Photographer: Chip Somodevilla/Getty Images/Bloomberg During his first term, Trump negotiated a “phase one” trade deal with Beijing that ended years of tit-for-tat tariffs, but few of China’s promised purchases of US goods materialized. Trump’s swearing-in ceremony is set for about midday in Washington. “China’s adherence to this agreement will now be assessed, to determine whether enforcement or changes are required,” the fact sheet said. The dollar tumbled on the news that Trump would refrain from immediately implementing aggressive tariffs, with a Bloomberg gauge of the greenback extending losses to about 1.2% — on track for its biggest daily slide since November 2023. Investors have speculated that a trade war would be positive for the dollar given one would likely hurt foreign economies more than the US, limit US demand for international goods and boost the currency’s safe-haven status. US equity futures climbed. Trump’s tariffs — which he’s threatened to slap on adversaries and allies alike — stand to have one of the biggest impacts on the US economy, analysts say. The self-proclaimed “tariff man” enacted duties on about $380 billion in imports in his first term. Whether tariffs will do anything to close the trade deficit or bring back manufacturing or end any crisis is debatable. Many economistsare skeptical. Tariffs in the short term are more certain to lead to a further appreciation of the dollar, raise the cost of imports, and add to government revenues, at least initially.