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Gold Price Bid as US President Trump Warns of New European Tariffs

In the same meeting, the president said his negotiators were very close to making some very good trade deals fair trade deals, I don’t mean well, I mean fair trade agreements for our tax payers, and for our workers and ours farmers. He closely coordinated with China on efforts to get Pyongyang to eliminate its nuclear arsenal. The president of the United States imposed a worldwide 25% tariff on steel imports and a 10% tariff on aluminum in March, but granted temporary exemptions for Canada, Mexico, Brazil, the European Union ( EU), Australia and Argentina.

The administration has reached agreements in principle with Argentina, Australia, Brazil and with regard to steel and aluminum, whose details will be finalized shortly, the White House said on Monday. The Trump administration may have already answered the second one. He said the tariffs are necessary for national security protection and intellectual property of US companies.

In terms of predictable risk events the markets now look with some trepidation for official growth data from Australia and a monetary policy decision from the Bank of Canada, both of which are due on Wednesday. Before that, on Wednesday, he will get a weekly look at US energy inventory figures from the Department of Energy. He also seems undecided, given the numerous uncertainties now facing the risk appetite, from trade to Brexit. The Asia-Pacific stock markets were crushed by news from the previous US session in which Donald Trump said the tariffs would be imposed on steel and aluminum imports from Brazil and Argentina in an unexpected move.

During an impromptu appearance in the north of the White House Prato, the president greeted his very large tariffs “on China. United States says it is very close to making fair trade offers as big banks voice warn of risks to economic growth Donald Trump has defended his controversial positions on tariffs and trade, although global markets have been shaken from a disappointing start to the second half of the year. European Commission President Jean-Claude Juncker called the Trump proposal a blatant intervention to protect the US domestic industry and threatened to take countermeasures.

Trump is forcing the Europeans closer to the Russians, Stefan Meister, Russia expert at the German Council on Foreign Relations in Berlin, said in an interview with Bloomberg. Easy to miss ” In his first tweet on Wednesday, he showed no sign of retreating, saying that the United States had lost more than 55,000 factories and 6 million jobs in the industry and let its trade deficit rise from the moment that the first Bush administration. Furthermore, President Trump said he had no intention of being involved in the UK elections and had not thought about the controversial NHS issue in any US-UK trade deal. To throw fuel on the risk-off move, US President Trump told reporters at today’s NATO meeting in London, that recent comments from President Macron that NATO is brain death ‘are disrespectful and that Germany is not the their fair share to NATO.

Trump plans to set up a 25 percent duty on steel and 10 percent on aluminum to cheap counter imports, particularly from China, which he says are undermining the US industry and employment. He said in a statement that the move would retaliate for China’s previous decision to raise $ 50 billion in US commodity rates. What Trump also fails to remember is that the United States has a much higher 25% rate on foreign-made SUVs and light trucks, the weak point of the American car market. President Donald Trump is continuing to threaten Europe with high tariffs on car imports if unspecified trade barriers fall, but the risk may not be worth the reward.