According to people familiar with the matter, all that is missing is the effective date…
Bloomberg is reporting that the US is about to lift certain tariffs on Canada & Mexico.
What has been reported so far:
The U.S. is poised to lift steel and aluminum tariffs on Canada and Mexico in favor of stronger enforcement actions, according to people familiar with the matter, in a move that helps clear the way for USMCA ratification, Bloomberg News Reports.
The effective date for removing the tariffs is the outstanding issue, one of the people said.
Which is odd at first glance.
Well, from just a few days ago:
In one year Tariffs have rebuilt our Steel Industry – it is booming! We placed a 25% Tariff on “dumped” steel from China & other countries, and we now have a big and growing industry. We had to save Steel for our defense and auto industries, both of which are coming back strong!
— Donald J. Trump (@realDonaldTrump) May 14, 2019
If a person really thinks the tariffs, in only “one” year, have “rebuilt our Steel Industry”, does this mean that in one year the steel industry will have fallen apart again?
It sure seems like that, but by taking this news at face value and looking at this one move as part of a whole, understanding that Trump is the Fall Guy will go a long way into understanding why all of this flip-flopping is taking place, even if this flip-flopping is being done to help “clear the way” as the report states, with words carefully selected to please the HFT Algos crunching the data that’s pumping out of Bloomberg Terminal, which is exactly where this data is first being pumped:
Furthermore, last week, I argued there can be no trade deal without a devaluation to the US dollar, so get ready for steel and aluminum prices that are way more than some stinkin’ 25% tariff.
My dollar devaluation argument includes the USMCA, or, “NAFTA 2.0” as I like to call it.
And I’ve conveniently started the video at the exact point of my argument for your convenience:
The non-stop shelling of gold & silver say it will.
The allowance of the crypto rally says it too.
In the end, protection won’t be the dollar.
Nor Bitcoin or BItcoin’s derivatives.
It is only gold and only silver.
That offer real protection.
At today’s prices?
Tons and tons.
– Half Dollar
About the Author
U.S. Army Iraq War Combat Veteran Paul “Half Dollar” Eberhart has an AS in Information Systems and Security from Western Technical College and a BA in Spanish from The University of North Carolina at Chapel Hill. Paul dived into gold & silver in 2009 as a natural progression from the prepper community. He is self-studied in the field of economics, an active amateur trader, and a Silver Bug at heart.