Reuters citing an unnamed official, Trump to sign the deal between the United States, Mexico and Canada on Wednesday during a ceremony at the White House
This United States-Mexico-Canada Agreement (USMCA) replaces NAFTA
It is yet to be formally approved by Canada.
The delay from CAD may be donut related? (kidding)
Trump talks about his “great and unmatched wisdom”
Another tweet on Turkey:
As I have stated strongly before, and just to reiterate, if Turkey does anything that I, in my great and unmatched wisdom, consider to be off limits, I will totally destroy and obliterate the Economy of Turkey (I’ve done before!). They must, with Europe and others, watch over…the captured ISIS fighters and families. The U.S. has done far more than anyone could have ever expected, including the capture of 100% of the ISIS Caliphate. It is time now for others in the region, some of great wealth, to protect their own territory. THE USA IS GREAT!
The Turkish lira is under pressure today on speculation they will launch offensives into Turkey.
Trump comments late on Friday
Trump made news late in the day on Friday. Speaking to reporters, he walked back comments from economic adviser Larry Kudlow, who earlier in the day said the White House wouldn’t intervene in the dollar.
“I didn’t say I’m not going to do something,” he told reporters.
It was earlier reported that Peter Navarro gave him options on devaluing the dollar but Trump ruled them out. They also weighed proposals to publicly talk down the currency.
His public reaction is typical Trump, he rarely likes to show his hand, even in a matter that’s decided. Bloomberg sources said on Fr
He followed up that comment with several other notable quips and tweets:
- BBG, citing two sources, said lower rates from the Fed might do the job and help avoid intervention
- “I could do [currency intervention] in two seconds if I wanted to” he said
- “The dollar is very strong, the country’s very strong, the dollar — it’s a beautiful thing in one way, but it makes it harder to compete.”
- “The fed acted too soon, and I turned out to be right. They acted too soon and too violently.”
- “I think that China will probably say, let’s wait, it’s 14, 15 months until the election”
- “So, I don’t know if they’re going to make a deal. Maybe they will, maybe they won’t, I don’t care, because we’re taking in tens of billions of dollars worth of tariffs.”
- “When I win, like almost immediately, they’re all going to sign deals”
- He was asked if he will tariff French wine, after Macron levied a tax on Internet giants. “I might, I might,” he said.”I’ve always liked American wines better than French wines, even though I don’t drink wine. I just like the way they look, OK? But American wines are great.”
Lots to digest there.