Gold Declines Gradually as Dollar Rises Amid Anticipation of Fed Appointments - Jordan News
Palladium declined by 0.6% to $1,168.42.
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Jordan Times
12 hours ago
- Jordan Times
Sensible and steely: how Mexico's Sheinbaum has dealt with Trump
MEXICO CITY — A combination of tact and tenacity is credited for Mexican President Claudia Sheinbaum's successful dealings with US counterpart Donald Trump, most recently convincing him to delay a sky-high import tariff meant to come into effect last week. The pair are known to get along despite sitting on opposite sides of the political aisle, earning Mexico's first woman president the epithet of "Trump whisperer." At least three times now, the US president has granted Mexico tariff relief and Trump has described Sheinbaum as a "wonderful woman" to the envy of a host of other world leaders who have found exchanges with Trump can be tetchy. On Thursday, Trump agreed to delay by 90 days a 30 per cent general tariff on imported Mexican goods, just hours before it was to take effect. It was the outcome of the ninth phone conversation between the two leaders since Trump returned to power in January with a strong rhetoric against undocumented migrants and fentanyl flowing from America's southern neighbour. How did she do it? "With a cool head," the president herself told reporters Friday. The 63-year-old physicist and dedicated leftist added that she avoids "confronting" the magnate, all the while insisting on Mexico's sovereign rights in dealing with a man known to respect strong leaders. Sheinbaum has said that Mexicans should "never bow our heads" and Trump has acknowledged her mettle, remarking: "You're tough" in one phone call, according to The New York Times. "Mexico represents a lot to the United States... they are aware of that," Sheinbaum explained. 'Ability to convince' Thanks to the USMCA free trade agreement between Mexico, the United States and Canada, nearly 85 per cent of Mexican exports have been tariff-free. And while a 30 per cent general tariff has been delayed, for now, Mexico's vital automotive sector is the target of a 25 per cent levy, albeit with discounts for parts manufactured in the United States. Its steel and aluminium sectors, like those of other countries, are subject to a 50 per cent tariff. Mexico's government nevertheless claims the latest delay as a victory. "Without being sycophantic, I can tell you that the way our president handles her conversations, her approach, the firmness with which she defends Mexico's interests, her ability to convince President Trump, is very significant," Secretary of Economy Marcelo Ebrard, who leads trade negotiations, told reporters Thursday. Give and take Sheinbaum seems also to have adopted a give and take approach, deploying thousands of border troops to assuage Trump's concerns about migration and drug flows. The president insists she has "not yielded anything" in negotiations with Trump, and talks are ongoing between the neighbours for a security agreement to tackle the problem of fentanyl and drug trafficking. Sheinbaum has also raised the possibility of importing more US products to reset the trade balance. Some fear the Mexican leader is merely buying time. The latest tariff delay "does not solve the issue of uncertainty; we return to the starting point," Diego Marroquin, a trade expert at the Centre for Strategic and International Studies in Washington, told AFP.
Al Bawaba
a day ago
- Al Bawaba
Trump's crypto fortune soars to $11.6 billion
ALBAWABA- A new investigative analysis claims that U.S. President Donald Trump has amassed a personal fortune of $11.6 billion from cryptocurrency holdings, making up nearly three-quarters of his estimated $15.9 billion net worth, while in office. The report, published Thursday by watchdog group Accountable and detailed by The Intercept, alleges that Trump rapidly built his crypto empire by leveraging his presidential powers to benefit his private financial interests. According to the group, this shift marks a stark departure from his pre-presidency wealth base, with traditional business ventures now accounting for less than half of his fortune. 'The more the President's wealth depends on anonymous investors around the world with hidden agendas, the greater the risk.' — The Intercept (@theintercept) August 9, 2025 'Soon after signing his 'Big Ugly' law that strips health care and food security from millions, President Trump pushed legislation that padded his net worth by billions through dubious crypto schemes,' said Caroline Ciccone, president of Accountable. She warned that the President's reliance on 'anonymous investors' worldwide poses risks to U.S. national security and public trust. The group's findings challenge earlier Bloomberg estimates that pegged Trump's crypto assets at roughly $620 million out of a $6.4 billion net worth. Accountable argues that Bloomberg significantly undercounted both his digital holdings and total wealth, citing the volatile value of meme coins like the $TRUMP token and other assets linked to his family's World Liberty Financial venture. Critics have also noted that Trump has aggressively rolled back cryptocurrency regulations, signed the 'stablecoin' law, and hosted high-profile receptions for meme coin holders. The White House rejected the allegations, with press secretary Karoline Leavitt calling them 'fabricated conflicts of interest' and reaffirming the administration's pledge to make the United States 'the crypto capital of the world.'
Jordan News
4 days ago
- Jordan News
Dollar Continues to Decline Amid Concerns Over U.S. Economy - Jordan News
Dollar Continues to Decline Amid Concerns Over U.S. Economy The U.S. dollar continued its decline against major currencies on Thursday, as expectations grew that the Federal Reserve would cut interest rates and concerns mounted over the influence of partisan politics on key American institutions. اضافة اعلان Markets are now anticipating the release of initial jobless claims data, following last week's disappointing non-farm payroll figures that weighed heavily on the dollar. Meanwhile, the euro received a boost ahead of anticipated talks next week aimed at ending the war between Russia and Ukraine. The British pound remained steady ahead of the Bank of England's monetary policy announcement, with markets widely expecting another interest rate cut. Last week, President Donald Trump dismissed the official responsible for labor data, which he disapproved of. Attention has now shifted to his nominations to fill an upcoming vacancy on the Federal Reserve Board of Governors, as well as candidates for the next Fed Chair. 'All of this points to increasing political risks surrounding the U.S. dollar,' said Tony Sycamore, market analyst at IG. 'And on top of that, we have weak data coming in.' He added that any progress toward ending the war in Ukraine 'would be a positive driver for the euro.' The U.S. dollar index, which measures the currency's performance against a basket of six major counterparts, held steady at 98.133 after falling 0.6% in the previous session. The greenback was little changed against the Japanese yen, trading at 147.35 yen. The euro rose 0.1% to $1.1671.
