Complex declines as Trump plans tariffs on Canada and Mexico – ING
Source Fxstreet
Base metals declined yesterday after US President Trump said, on his first day back in power, that he will likely impose tariffs as high as 25% on Mexico and Canada by 1 February, ING’s commodity analysts Warren Patterson and Ewa Manthey note.
Downside risks for industrial metals increase
“Trump also indicated that he was still considering a universal tariff on all imports to the US, but said he was ‘not ready for that yet’. This has raised prospects of renewed global trade conflict once again.”
“Tariffs are the biggest risk to our industrial metals outlook. We believe with President Trump back in the White House, the downside risks have increased for industrial metals.”
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Tesla Q2 Earnings Preview: Record Deliveries Fail to Hide Profit Pressure, Can Musk Rely on AI and Autonomous Driving to Unlock New Growth Space?Tesla ( TSLA) will release its second-quarter financial results after the U.S. market close on July 22, Eastern Time. As one of the most closely watched technology and automotive companie
Tesla ( TSLA) will release its second-quarter financial results after the U.S. market close on July 22, Eastern Time. As one of the most closely watched technology and automotive companie
Crude Oil Price Forecast: Worsening US-Iran Tensions Support Oil Prices Breaking Above $90, Can Brent Crude Return to $100?As of the Asian session on July 20, Brent crude ( UKOIL) opened higher and moved higher today, attempting to break through the $90 mark during intraday trading, reaching a high of $91.42.
As of the Asian session on July 20, Brent crude ( UKOIL) opened higher and moved higher today, attempting to break through the $90 mark during intraday trading, reaching a high of $91.42.
West Texas Intermediate (WTI) oil price opened at a bullish gap, trading around $83.50 per barrel during the Asian hours on Monday.
As of the Asian session on July 17, gold prices ( XAUUSD ) fluctuated around $4,000. However, it is worth noting that gold closed at $3,969.41 yesterday, confirming a break below the $4,0
TradingKey Daily Market Brief: Gold Falls Below $4,000, TSMC’s Strong Earnings Fail to Stop AI Trade Cooling, Chip Stocks Sold OffTracking Market TrendsTradingKey - On July 16, Eastern Time, the three major US stock indexes closed down collectively. Although US economic data performed robustly and the start of the Q2 earnings se
Tracking Market TrendsTradingKey - On July 16, Eastern Time, the three major US stock indexes closed down collectively. Although US economic data performed robustly and the start of the Q2 earnings se
Related Instrument
