Highlights
The weather forecast has rain coming to the dry areas of South America a day sooner next week than expected yesterday, but the wet area looks less likely to dry out, but rainfall amounts are reduced.
Thirty minutes before Wall Street closed yesterday, Trump said Saturday would be tariff decision day. Trump added he’s still mulling whether the tariffs will hit oil too. “We may or may not, we’re going to make that determination probably tonight based on oil prices”.
About the same time, Bloomberg’s commodity and energy reporter, Javier Blas, reported Trump said he will go ahead imposing a 25% tariff on Canada and Mexico on Saturday. That caused crude oil futures to spike nearly a dollar in a few minutes, which was lost in the next 10 minutes.
Trump, some of his cabinet nominees, and analysts who think they are in-the-know have predicted many different tariff rates for Canada, Mexico, China, EU, and several other countries. Remember, any tariffs Trump assigns, will be on other countries’ imports into the U.S., not U.S. exports. The reaction of those countries will be much more influential on your life than Trump’s tariffs. There is one exception and that is potash.