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Mexico's Economy Minister Marcelo Ebrard suggested on Monday that the Mexican government could retaliate with its own tariffs on U.S. imports if the incoming Trump administration slaps tariffs on Mexican exports. Ebrard made the comments in an interview with local broadcaster Radio Formula, in which he reflected on how President-elect Donald Trump threatened 25% tariffs on Mexican goods during his previous term in office at a time when the Republican leader sought concessions from Mexico's government on immigration enforcement.

(Bloomberg) -- Australia’s consumer sentiment rose in November while business confidence jumped to the highest level since early 2023, reflecting ebbing inflation pressures that suggest the next move in interest rates will be a reduction.Most Read from BloombergThe Leaf Blowers Will Not Go QuietlyArizona Elections Signal Robust Immigration Enforcement Under TrumpScoring an Architectural Breakthrough in Denver’s RiNo DistrictKey Ballot Initiatives and Local Races Highlight Views on Abortion, Immi

(Bloomberg) -- New Zealand’s concrete production slipped to the lowest level in nine years, highlighting a construction slowdown in a sputtering economy.Most Read from BloombergThe Leaf Blowers Will Not Go QuietlyArizona Elections Signal Robust Immigration Enforcement Under TrumpScoring an Architectural Breakthrough in Denver’s RiNo DistrictKey Ballot Initiatives and Local Races Highlight Views on Abortion, ImmigrationOutput fell 9.3% to 3.88 million cubic meters in the 12 months through Septemb

(Bloomberg) -- Oil extended declines as a soft outlook for demand in China, the world’s largest crude importer, continued to plague the market.Most Read from BloombergThe Leaf Blowers Will Not Go QuietlyArizona Elections Signal Robust Immigration Enforcement Under TrumpScoring an Architectural Breakthrough in Denver’s RiNo DistrictKey Ballot Initiatives and Local Races Highlight Views on Abortion, ImmigrationWest Texas Intermediate retreated 3.3% to settle near $68 a barrel, while Brent settled

HOUSTON (Reuters) -Oil prices fell by more than 2% on Monday after China's latest stimulus plan disappointed investors seeking demand growth in the world's second-biggest oil consumer, while supply looked set to rise in 2025. Donald Trump's U.S. election victory may continue to affect the market, said Phil Flynn, senior analyst for the Price Futures Group. "The election with Trump's promise to 'drill, baby, drill' has taken away some incentive to go long," Flynn said.

Trump weighed ousting Powell in 2018, but the Fed chief told then-Treasury Secretary Steven Mnuchin that he would fight his removal, according to the Wall Street Journal.

While imposing tariffs in the past has done damage to the U.S. economy, today’s incoming tariffs are likely to have a different outcome for a multitude of reasons. The post Trump’s tariffs: Not your grandpa’s economic disaster appeared first on FreightWaves.