United States President Donald Trump stated on Friday that Chinese products may be subject to new extreme tariffs and that he is weighing the options with his team. “I never thought it would come to this but perhaps, as with all things, the time has come. Ultimately, though potentially painful, it will be a very good thing, in the end, for the U.S.A. One of the Policies that we are calculating at this moment is a massive increase of Tariffs on Chinese products coming into the United States of America,” the American leader wrote on his Truth Social account. Trump also claimed that “for every Element that they [China] have been able to monopolize,” Washington has two, while also announcing that “many other countermeasures” are “under serious consideration.” In the same post, the president also declared that there is no reason to speak to his Chinese counterpart, Xi Jinping.
WTI Drops Below $60 on Gaza Ceasefire
WTI crude fell below $60 per barrel as easing Middle East tensions and weak China–U.S. sentiment erased much of oil’s geopolitical risk premium. The relatively successful implementation of the Israel-Gaza ceasefire deal has lowered geopolitical risk premiums in oil futures and sent front-month ICE Brent prices below $64 per barrel. The evident escalation in China-US tensions isn’t adding any bullish momentum to crude either, with all signs pointing towards a 2026 impact on global trade if the current pace of sanctions and reciprocal levies doesn’t ease.
NN: Markets got it wrong. China will not be buying less oil. Trumps sanctions are a bluff. Gaza is not part of the oil equation. Last thing oil under $60 WTI means the cure for lower oil prices are lower oil prices. Because oil fracking wells in the US shut down.
Oil plunges 3% on Trump’s China remarks
Oil futures plummeted more than 3% on Friday after United States President Donald Trump seemingly escalated trade tensions with China, threatening Beijing with a “massive increase” in tariffs over its decision to implement export controls on rare earths. Crude prices were also likely affected by the easing of tensions in the Middle East following the ceasefire agreement reached between Israel and Hamas.Brent for deliveries in December slumped 3.13% to $63.17 per barrel ar 11:21 am ET and West Texas Intermediate (WTI) for settlements in November dropped 3.66% to go for $59.28 per barrel at 11:31 am ET.
Trump threatens ‘massive’ tariffs on China
United States President Donald Trump stated on Friday that Chinese products may be subject to new extreme tariffs and that he is weighing the options with his team. “I never thought it would come to this but perhaps, as with all things, the time has come. Ultimately, though potentially painful, it will be a very good thing, in the end, for the U.S.A. One of the Policies that we are calculating at this moment is a massive increase of Tariffs on Chinese products coming into the United States of America,” the American leader wrote on his Truth Social account. Trump also claimed that “for every Element that they [China] have been able to monopolize,” Washington has two, while also announcing that “many other countermeasures” are “under serious consideration.” In the same post, the president also declared that there is no reason to speak to his Chinese counterpart, Xi Jinping.
NN: I think Trump is having a bad hair day. I think its that golden peace prize thing.
Venezuelan opposition leader gets Nobel Peace Prize…. WH SAYS NOBEL COMMITTEE PUTS POLITICS BEFORE PEACE
Venezuelan opposition leader Maria Corina Machado was awarded the Nobel Peace Prize on Friday “for her tireless work promoting democratic rights for the people of Venezuela and for her struggle to achieve a just and peaceful transition from dictatorship to democracy.” The Norwegian Nobel Committee described Machado as a “key, unifying figure” in the Venezuelan opposition to President Nicolas Maduro, noting that his “authoritarian regime makes political work extremely difficult.” Machado was a candidate in the primaries ahead of the 2023 presidential election, before being blocked from running by the government. In 2024, she announced that she was forced into hiding. “Despite serious threats against her life she has remained in the country, a choice that has inspired millions of people,” the Nobel committee said.
WH says Nobel Committee puts politics before peace
White House Communications Director Steven Cheung (pictured) accused the Nobel Committee on Friday of prioritizing politics over peace after United States President Donald Trump was not awarded the Nobel Peace Prize, although his efforts to bring peace to the Gaza Strip apparently yielded results. “President Trump will continue making peace deals, ending wars, and saving lives. He has the heart of a humanitarian, and there will never be anyone like him who can move mountains with the sheer force of his will,” Cheung said in a post on X. Earlier in the day, the Norwegian Nobel Committee awarded the peace prize to Venezuelan opposition leader Maria Corina Machado “for her struggle to achieve a just and peaceful transition from dictatorship to democracy.”
NN: Mr. President walk back from the ledge
Netanyahu: Hamas will be disarmed and dismantled………… ‘Hamas Will Agree To Disarm’
Israeli Prime Minister Benjamin Netanyahu said on Friday that Hamas “will be disarmed and then dismantled,” and that this can be achieved “the easy way,” presumably via United States President Donald Trump’s Gaza ceasefire plan, or “the hard way,” supposedly referring to a return to fighting. He claimed that Hamas only agreed to the ceasefire deal “because it felt the sword at its throat,” adding that Trump’s plan will isolate Hamas on the international stage “in an unprecedented way.”Netanyahu praised Trump’s “massive political pressure” on Hamas, stating that it was necessary to push the militant group to return all remaining hostages. He thanked Trump for his “global leadership and his tireless efforts” in formulating the Gaza plan, as well as members of his administration, “who worked hard to reach an agreement.” He repeated that the hostages held by Hamas will be released in the coming days.
‘Hamas Will never Agree To Disarm’
Hamas will never agree to disarm or surrender, Israel-based Maj. (Res.) Alexander Grinberg said on Global Pulse. He also added that the Palestinian militant group won’t agree to a international security fore in Gaza.
NN: BlackMask Pod Cast:
Hamas Says Disarm Over My Dead Body.. Sounds Like a plan to me
Precious metals reverse course, gold drops 2%
The prices of most precious metals gave up previous gains on Thursday, with gold coming off its recent all-time high and going below the $4,000 mark. The appetite for safe havens likely faded due to the ceasefire deal between Israel and Hamas. In addition, today’s speech by United States Federal Reserve Chair Jerome Powell didn’t give any insights into further potential interest rate cuts in 2025. Meanwhile, Fed Governor Michael Barr called for a “cautious” approach to policy adjustment, underlining that “considerable uncertainty” is still present. Gold slid 2.35% to $3,946.92.01 per ounce at 1:16 pm ET. A minute later, silver lost 0.64% to sell for $48.56 per ounce. At 1:17 pm ET, platinum declined 1.43% to $1,646.05 per ounce. Meanwhile, palladium increased 1.72%, selling at $1,434.49 per ounce at the same time.
US hits Iran oil network with new sanctions
The United States Treasury’s Office of Foreign Assets Control (OFAC) sanctioned on Thursday more than 50 individuals, companies, and vessels linked to Iran’s petroleum and petrochemical exports, aiming to dismantle what it called key elements of Tehran’s “energy export machine.” Secretary of the Treasury Scott Bessent said the move disrupts “the regime’s ability to fund terrorist groups that threaten the United States,” primarily “billions of dollars” in oil and liquefied petroleum gas (LPG) sales. The action hits firms and networks in China, the United Arab Emirates, India, Turkey, and Hong Kong involved in transporting or processing Iranian crude.The measures also marked Washington’s fourth round of penalties on China-based refineries purchasing Iranian oil, as part of the Trump administration’s maximum economic pressure campaign.
JPMorgan CEO Dimon warns of US stock market correction risk
JPMorgan Chase (JPM.N), opens new tab CEO Jamie Dimon warned of a heightened risk of a significant correction in the U.S. stock market within the next six months to two years, the BBC reported. “I am far more worried about that than others,” Dimon said, adding there were a “lot of things out there” creating an atmosphere of uncertainty, pointing to risk factors including geopolitical tensions, fiscal spending, and global remilitarization. “All these things cause a lot of issues that we don’t know how to answer,” he told the BBC in an interview on Wednesday, highlighting that the U.S. stock market faces increased risks of being overheated.
Dimon also expressed mild concern about inflation but remained confident in the Federal Reserve’s independence despite criticism from the Trump administration of Fed Chair Jerome Powell. Dimon expressed caution about the U.S. economic outlook last month, warning that the full impact of tariffs, immigration, geopolitics, and President Donald Trump’s tax and spending policies remains uncertain due to their long-term cycles.
NN; I can’t wait
Trump Opens Door to Talks GOP Has Resisted as Shutdown Extends
With the US government shutdown closing in on the one week mark, President Donald Trump showed signs of cracking Monday, sending mixed messages about the state of talks with Democrats on their biggest demand.Trump, who had remained on the sidelines of negotiations for days, on Monday said he was open to negotiating with Democrats over health care subsidies to bring an end to the funding stalemate, at one point suggesting those talks had already begun. The remarks appeared to mark a shift after days of Republicans maintaining they’d only consider a possible extension of Obamacare subsidies after Democrats first passed legislation to fund the government. Senate Democratic Leader Chuck Schumer swiftly issued a statement saying that while no talks were ongoing, “if he’s finally ready to work with Democrats, we’ll be at the table.” Lawmakers on both sides, however, ended Monday unsure if Trump’s remarks represented a genuine breakthrough that could give negotiations momentum, or merely added up to more bluster that leaves things largely as they were. In the short term, nothing shifted on Capitol Hill. Late in the day Monday, the Senate convened and took their fifth vote on a bill to keep the government open through Nov. 21. As with the four times before, it failed.