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President-elect Donald Trump has appointed Peter Navarro as Senior Counselor for Trade and Manufacturing, following Navarro's release from prison after serving time for contempt of Congress. Navarro, a key trade advisor during Trump's first term, will focus on advancing Trump's manufacturing and trade agendas, emphasizing "Buy American, Hire American." Trump praised Navarro as a victim of the "Deep State" and a strong advocate for protectionist policies.
President Joe Biden criticized President-elect Donald Trump's plan to impose a 25% tariff on Canada and Mexico, calling it "counterproductive" and urging him to reconsider. Trump announced the tariffs as part of his strategy to combat drug trafficking and illegal immigration, but economists warn that such measures could raise consumer costs. Meanwhile, Mexican President Claudia Sheinbaum clarified that Mexico's stance is not to close borders, while Canadian Prime Minister Justin Trudeau emphasized the importance of maintaining strong trade relations with the U.S.
The potential for significant currency market volatility looms as President-elect Trump threatens to impose tariffs on Mexico, Canada, and China, with strategists warning that these moves may serve more as negotiation tactics than actual policy. Analysts predict that such tariffs could lead to a stronger U.S. dollar and increased pressure on foreign currencies, particularly the Mexican peso, which could see dramatic shifts in response to tariff announcements. The market anticipates a prolonged negotiation process, with the possibility of retaliatory measures complicating the landscape further.
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Trump Appoints Peter Navarro as Senior Counselor for Trade and Manufacturing
16:51 04.12.2024
biden criticizes trumps proposed tariffs on canada and mexico as counterproductive
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19:25 28.11.2024
trump's tariff threats spark volatility in currency markets and investor caution
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12:44 26.11.2024
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