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Promised 25% Tariffs on Steel / Aluminum Rattle Commodities, Currencies and Stock Futures

hank
edited February 10 in Other Investing
“President Donald Trump's pledge to impose tariffs on all imports of steel and aluminum pushed commodity currencies lower while equities are poised for a risk-off day as markets remained jittery about rising trade tensions. The Australian and Canadian dollars, and the Norwegian krone, declined after Trump's comments. Shares across Asia Pacific dropped at the open while iron ore futures rose. News that a 25% levy on steel and aluminum will be announced Monday added to an already jittery markets in anticipation of Trump unveiling fresh measures on "everyone" and Federal Reserve Chair Jerome Powell's semiannual congressional testimony. Trump said the metals tariffs would apply to imports from all countries, though he didn't specify when they would take effect.”

Excerpted from / Reported by Bloomberg Media 2/9/25


I know! We’ve seen this movie before. Just reporting ….. I was planning some minor moves tomorrow. But decided against it after hearing this news. “Sit tight” best measure until markets settle down.

Comments

  • larryB
    @Hank. + 1000. Sit tight.,,,, until markets settle down. Hell yes. The last ten days have been the longest year of my life. Might be a long wait.
  • JD_co
    Short of launching a nuclear missile, it appears that the markets don't really care what Orange does.

    His tariffs are viewed as temporary bluffs, for the most part. The tearing apart of the US govt and our democracy also appear trivial to Mr. Market.

    Would be really nice if we could all learn to ignore him as well, but the media makes sure to echo his every musing or ramble. And der fuhrer wouldn't have it any other way.
  • larryB
    edited February 9
    The market will ignore the madness until it doesn’t. We all acknowledge the market hates uncertainty. EVERY F_____g ASPECT of America is uncertain. And we are only three weeks in. I have been amazed how an already expensive market has ignored the madness and lawlessness but it’s way too risky for this old man. Something will break,,,,, it’s just a matter of time. And even if the constitution was not being enviserated,,, the market is in bubble
  • Sven
    All that traffics amount to diversion tactics as President Musk along with his sidekick Trump dismantling the government. When was the last time the government is offering buyouts ?
  • stillersstillers
    edited February 10
    ...though he didn't specify when they would take effect.

    Yeah, so then, is it "Promised" or more like "Threatened" again? Last time it was the latter.

    And is this going to be an every Friday/Monday buffoonish thingie? European markets and US futures appear to be treating it as such.

    Aside: Hoping the weather back East breaks soon. The more he's out cheating at golf, the less time he'll have to play president.
  • davidrmorandavidrmoran
    It’s not him, it’s the evildoers surrounding him
  • BaluBalu
    edited February 10
    what is wrong with buyouts offers in principle? Private companies do it all the time. No one is required to accept them.
  • CrashCrash
    BaluBalu said:

    what is wrong with buyouts offers in principle? Private companies do it all the time. No one is required to accept them.

    Take the offer or get terminated WITHOUT any severance? That's no deal. That's blackmail.
  • Sven
    Initially, “60%” traffics on China was imposed without specifying which goods. Then it went to “10%”. Now is “25%” on steel and aluminum. In the meantime, China is taking their case to World Trade Organization. In his previous administration, tariffs imposed on China resulted in small impact, and both sides saved faces in the end.

    What is ironic is that Canada is the exporter to US on steel and aluminum, whereas China is a much smaller importer on these two metals. China has been eying to cut out all rare earth metals to US, which are important components of manufacturing high performance chipsets. We will se how this game plays out.

    Agree that these tariffs are nothing more than empty threats or negotiating tactics to strong-arm the country.
  • davidrmorandavidrmoran
    edited February 10
    One of the appeals of public sector work is that a tradeoff for lower pay is expectation of stability and longevity (assuming good performance) barring budget cuts.

    Not sudden layoff in the middle of doing really important work due to destructive whim and lies.

    I myself have had perhaps 5 public sector jobs, (only) one of them partly federal, and the only time I got laid off was due to budget cuts, and the event was sudden and the terms ungenerous, but that too is part of the deal. And the work I was in the middle of doing was important (legislation reform).
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