Afternoon everyone……
Well…..
In case you haven’t heard this yet. President Trump just signed a bill putting tariffs on all imports from Canada, Mexico and China.
Here is a quick cut from my yahoo home page.
WASHINGTON (AP) — President Donald Trump on Saturday signed an order to impose stiff tariffs on imports from Mexico, Canada and China, drawing swift retaliation and an undeniable sense of betrayal from the country's North American neighbors as a trade war erupted among the longtime allies.
The Republican president posted on social media that the tariffs were necessary “to protect Americans," pressing the three nations to do more to curb the manufacture and export of illicit fentanyl and for Canada and Mexico to reduce illegal immigration into the U.S.
The tariffs, if sustained, could cause inflation to significantly worsen, threatening the trust that many voters placed in Trump to lower the prices of groceries, gasoline, housing, autos and other goods as he promised. They also risked throwing the global economy and Trump’s political mandate into turmoil just two weeks into his second term.
So what exactly does this mean going forward……
Well his promise to lower the cost of goods is 100% out the window now with the signing of the tariffs. All three countries have retaliated already, with their own tariffs back on us.
So if you enjoy beer from Canada, I’d suggest you buy lots of it tomorrow, or you will be paying 25% more shortly, also maple syrup.
It’s to long to list all the stuff we get from China so I’ll skip that.
Mexico is the leader in export of Haas avocados. So expect those to go up in price quickly.
Long story short….
Now is a good time to be stacking gold and silver. I expect metals to come out the gate strong tomorrow morning when our market opens.
Got metals…..
