Mexico to Limit Migrants Crossing Border

By Thomson Reuters – Re-Blogged From Newsmax

Mexican and U.S. officials held a second day of talks on trade and migration on Thursday, with markets rebounding on optimism a deal could be close, although it was unclear if Mexican pledges to curb migration flows were enough to persuade the Trump administration to postpone tariffs.

U.S. President Donald Trump has warned that tariffs of 5% on all Mexican exports to the United States will go into effect on Monday if Mexico does not step up efforts to stem an increase in mostly Central American migrants heading for the U.S. border.

Bilateral talks in Washington began on Wednesday to attempt to strike a deal, with the Mexican government, U.S. business groups and even many of Trump’s fellow Republicans keen to avert the tariffs, the prospect of which has rattled global financial markets.

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Extinction Rebellion protests: Met Wants to Charge More than 1,100 Activists

By Bonnie Christian – Re-Blogged From Evening Standard

Scotland Yard wants to charge more than 1,100 people who were arrested during last month’s Extinction Rebellion protests, a senior office has said.

More than 70 activists have so far been charged in connection with the demonstrations that brought parts of London to a standstill for 10 days.

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Trump to Hit Mexico w/ Tariffs Until it Shuts Off Immigration Spigot

By Agence France-Presse – Re-Blogged From Liberty Headlines

‘If the illegal migration crisis is alleviated…the Tariffs will be removed…’

Trump insists not in a 'rage' over row with Democrats

Donald Trump/PHOTO: AFP

Washington will impose a five percent tariff on all goods from Mexico — increasing to as much as 25 percent — until “illegal migrants” stop coming through the country into the US, President Donald Trump said Thursday.

“On June 10th, the United States will impose a 5% Tariff on all goods coming into our Country from Mexico, until such time as illegal migrants coming through Mexico, and into our Country, STOP,” Trump tweeted.

“The Tariff will gradually increase until the Illegal Immigration problem is remedied, at which time the Tariffs will be removed,” he wrote.

According to a White House statement, the tariff will rise to 10 percent on July 1, then increase by five percent increments each month until topping out at 25 percent on October 1.

US Is Winning Trade War With China…For Now

The ongoing battle between the United States and China for economic supremacy isn’t only being fought in the gilded ballrooms of Washington, as trade negotiators from either side parry over automobile parts content, intellectual property rights, government subsidies and the like.

Casualties and victories are also borne out over the decks of hulking freighters that carry the commodities which make up the nuts and bolts of international trade.

Indeed, shipping statistics are often sought by economics and traders trying to predict the health of a country’s economy or the world economy. The Baltic Dry Index (BDI) is one such leading indicator. Another is the Purchasing Managers’ Index (PMI). PMIs are a monthly survey of supply chain managers across 19 industries. An economy with a PMI of over 50 is considered to be growing; under 50 means an economy is treading water or possibly drowning.

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Nervous Mexican President Asks for ‘Dialogue’ w/ U.S. About Trump’s Tariffs

By Patrick J. McDonnell — Re-Blogged From Liberty Headlines

‘We are going to act with prudence and with respect for the authorities of the United States…’

Leftist Elected President of Mexico in Massive Landslide

Andres Manuel Lopez Obrador/Photo by Mexicanos Sin Fronteras (CC)

Mexican President Andres Manuel Lopez Obrador said Friday that he hoped “dialogue” could resolve a new crisis in U.S.-Mexico relations following President Donald Trump’s decision to impose across-the-board tariffs on Mexican imports because of what Trump called Mexico’s failure to stop U.S.-bound migrants.

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Gold Sees Safe-Haven Gains As Stocks Fall Sharply And Deutsche Bank Plummets

By Mark O’Byrne – Re-Blogged From Gold Eagle

Gold rose to a two week high and was higher in most currencies today after Washington’s threat of tariffs on Mexico exacerbated fears of a global trade war and recession, which saw a ‘flight to quality’ and gains for safe haven gold.

Spot gold jumped 0.9% to $1,298.80 an ounce this morning, its highest since May 15. Gold bullion has risen over 1.2% this month and appears headed for its first monthly gain in four months. This is important from a technical perspective and the fundamentals of growing risk aversion and robust demand should lead to further gains in June.

European trading has seen a clear flight to quality after President Trump unexpectedly politicised tariffs by slapping 5% on all goods coming from Mexico.

The increasingly hopeless case of a U.S. and China trade deal looked even further away after China drew up an “Unreliable entities” list of foreign parties (presumably mostly U.S.) that harm Chinese firms.

Stocks are red across the board globally with the S&P 500 breaking down sharply below its 200 day moving average (DMA). 2776 is a key level and Wall Street and Wasshington will not want a close below this level. Market intervention is quite possible, if not likely.

A weekly close below the 200 day moving average (DMA) could lead to follow through selling on Monday which could get ugly given the economic backdrop.

Financial stocks are particularly under pressure including UBS and embattled Deutsche Bank with the latter posting new “all time” lows of around €6. A whiff of contagion is in the air.

US and German bond yields hitting recent lows indicate the Fed might be backed into a rate cut sooner than they have been guiding with an inverting yield curve being a good barometer of trouble ahead

The greenback has also benefited somewhat from the risk off trade, in the face of this, silver and particularly gold are holding up well despite the recent sell off.

$1,300/oz and $14.60/oz are the respective hurdles approaching for both. Weekly closes over these levels should see follow though buying and further gains.

How far down we go, nobody knows, but it makes sense to stay cautious and prepared.

Fasten your seat belts it could be a lively Friday afternoon and weekend…

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Aussie Election Blamestorm Continues: “Voters Feared Climate Policy More Than Climate Change”

By Eric Worrall- Re-Blogged From WUWT

The Australian Government ABC confirming my view that climate activism is a virtue signalling hobby for comfortable urban elitists.

Election 2019: What happened to the climate change vote we heard about?

By Matt Mcdonald

It was supposed to be the big issue of the 2019 Australian federal election: climate change.

In the survey more than 60 per cent of Australians agreed with the sentiment that “Global warming is a serious and pressing problem. We should begin taking steps now even if this involves significant cost”.

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