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President-elect Donald Trump plans to impose tariffs on China and Mexico to combat the flow of fentanyl and migrants into the U.S., potentially enhancing cooperation on drug enforcement. However, this strategy poses risks to U.S.-China collaboration, which has improved recently. In 2023, nearly 75,000 Americans died from synthetic drug overdoses, primarily due to fentanyl, highlighting the urgency of the issue.
The peso strengthened by 1% to 20.40 against the dollar after President-elect Donald Trump reported a productive conversation with Mexico’s president, Claudia Sheinbaum. This improvement came as Mexico agreed to curb migration and drug inflow into the U.S., reversing earlier losses for the currency.
The Bank of Korea unexpectedly cut its benchmark interest rate by a quarter-percentage point to 3%, responding to heightened trade and economic concerns following Donald Trump's presidential election victory. This move comes alongside a revision of growth forecasts, indicating a cautious outlook for the economy.
The US dollar has surged over 7% since October 2024, fueled by expectations of President-elect Trump's policies and a cautious Federal Reserve stance on rate cuts. However, technical indicators suggest a potential near-term correction, with high positioning levels and seasonal trends indicating a year-end weakening. Geopolitical uncertainties and tariff impacts may further influence the dollar's trajectory into 2025.
Asia markets opened mixed following a stall in Wall Street's rally, with attention on the Bank of Korea's upcoming rate decision. U.S. inflation data aligns with the Federal Reserve's goals, suggesting stability in employment and prices, while the S&P 500's strong moving averages indicate solid market internals despite a slight downturn. Analysts are also exploring opportunities in international markets, citing U.S. stocks as relatively expensive.
Mexico's economic outlook for 2025 has worsened amid concerns over potential 25% tariffs from US president-elect Donald Trump. Economists are revising growth forecasts downward, anticipating a fourth consecutive year of reduced growth and diminished foreign investment. Such tariffs could jeopardize nearly 11% of Mexico's GDP, according to Bloomberg Economics.
Bitcoin has surged nearly 35% following Donald Trump's election victory, creating significant pressure on South Korea's small cap stocks. In contrast, the Kosdaq Index, heavily weighted with small caps, has declined by 8%, positioning it as Asia's worst-performing index this year.
Nouriel Roubini is preparing for rising yields on long-dated US bonds, driven by Donald Trump's policies, including looser monetary policy and higher tariffs, which threaten price stability. He is positioning for a curve steepener, a strategy that benefits from widening gaps between long- and short-dated yields, often referred to as the "Trump trade."
Bipartisan efforts in Congress are gearing up to advance AI legislation, with a focus on promoting research, addressing algorithmic bias, and enhancing medical device regulations. Key figures, including Rep. David Schwiekert and Sen. Mike Rounds, are advocating for policies that leverage AI for early disease detection and remote patient monitoring. The incoming Trump administration, with Elon Musk's involvement, is expected to prioritize AI policy, potentially appointing an "AI Czar" to drive initiatives forward.
Donald Trump
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Trump threatens tariffs to combat fentanyl crisis and immigration issues
03:26 28.11.2024
Trump's talks with Mexico boost peso amid migration and drug agreement
01:54 28.11.2024
bank of korea cuts interest rate amid rising trade concerns after election
01:51 28.11.2024
us dollar outlook for 2025 momentum or correction ahead
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asia markets mixed as wall street rally stalls ahead of rate decision
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23:00 27.11.2024
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20:00 27.11.2024
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