Loonie, Peso Plunge As US Unveils Global Steel, Aluminum Tariffs

Well, they were warned. A month after President Trump ordered a delay on global steel and aluminum tariffs, time is up and Commerce Secretary Wilbur Ross is set to announce the imposition of sweeping tariffs on steel and aluminum imports from Canada, Mexico, and the European Union.

And the impact is already showing up before the actual announcement with the Loonie erasing yesterday's economic data driven gains...

And the Peso pounded to one-week lows...

 

 

 

Comments

deer_flasher Looney Thu, 05/31/2018 - 10:49 Permalink

Unlikely, he's just throwing a tantrum because congress didn't aprove money for his wall thingy, most news in ZH headlines are meh, the USD will go up a bit (1=18.8 mxn right now, it was 22 when he got elected, so it's fine for us as it is), in a week or two the donald will back down on something, he'll say we mexicans suck and bla bla bla, comey sucks, china is dumb, arab dancing and the such.

Kick the mexas out then (illegal immigrants), built your wall, whatever, buy american. I personally try to buy tools made in mexico or the US, even if they're on the expensive side (urrea tools used to be partner with proto) I'm too poor to buy cheap tools.

And for middle class mexico will be bussiness as usual, expensive gasoline, government corruption case #9827, bbq on saturday and cheap beer, sometimes I wonder which mexicans the US people actually hates, I can't find a reason to hate most US citizens, most have been pretty chill to be around when I go shopping to the US

In reply to by Looney

Krink26 Thu, 05/31/2018 - 09:45 Permalink

Place your bets on the money wheel. What will bring the EU down? Italy, UK, Spain, Greece, Potugal, Poland, Hungary or a little bank from the domineering country of the block....

Defiated Thu, 05/31/2018 - 10:15 Permalink

Trumps Turn...on trade

 

He's like a Pigeon playing 'chess'...he 'Struts' around the board, takes a 'Shit', knocks over all the pieces...

and then claims he Won!!!!

 

MEGA ASSHOLE.....'MAKING AMERICAN IRRELEVANT AGAIN'....

 

GO ORANGE ASSWIPE!!!

dunce Fri, 06/01/2018 - 09:54 Permalink

They could have asked for a sit down and deal talk at the beginning of his term instead of proclaiming no changes would be tolerated. I guess that the concluded that intransigence would not cost them anything politically. Trump is a force they have never seen in America ot maybe in their world.