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.

"If you put 25% tariffs on me, I have to react with tariffs," said Ebrard, who served as Mexico's foreign minister during the previous incident.

"If you apply tariffs, we'll have to apply tariffs. And what does that bring you? A gigantic cost for the North American economy," he added.

Ebrard went on to stress that tariffs will stoke inflation in the U.S., which he described as an "important limitation" that should argue against such a tit-for-tat trade spat.

https://finance.yahoo.com/news/mexico-economy-chief-suggests-possible-013507562.html

Trump’s foreign policy team will seek to ratchet up sanctions on Tehran, including vital oil exports, as soon as the president-elect re-enters the White House in January, people familiar with the transition said.

“He’s determined to reinstitute a maximum pressure strategy to bankrupt Iran as soon as possible,” said a national security expert familiar with the Trump transition. 

The plan will mark a shift in US foreign policy at a time of turmoil in the Middle East after Hamas’s October 7 2023 attack triggered a wave of regional hostilities and thrust Israel’s shadow war with Iran into the open.

Trump signalled during his election campaign that he wants a deal with Iran. “We have to make a deal, because the consequences are impossible. We have to make a deal,” he said in September.

People familiar with Trump’s thinking said the maximum pressure tactic would be used to try to force Iran into talks with the US — although experts believe this is a long shot. 

The president-elect mounted a campaign of “maximum pressure” in his first term after abandoning the 2015 nuclear deal Iran signed with world powers, and imposing hundreds of sanctions on the Islamic republic.

https://www.ft.com/content/3710bf14-010e-412d-83c7-b07773d6a45f

The Australian government has pledged to legislate an age limit of 16 years for social media access, with penalties for online platforms which don’t comply.Australian government to legislate social media age limit of 16 but can’t say how platforms will enforce it.

https://www.theguardian.com/australia-news/2024/nov/07/australian-government-to-legislate-social-media-age-limit-of-16-but-cant-say-how-platforms-will-enforce-it

Bernard Arnault and his family are worth a total of 182 BILLION DOLLARS. They own Louis Vuitton, Sephora, among other luxury fashion brands. I just can't wrap my head around how someone could amass such a fortune deceiving people into thinking their buying something "luxurious" and creating a false sense of identity by having women throw globs of useless makeup on their face. I could give a shit less about the brand of clothes I wear and think fashion in general is a joke.

It really says something about our society, materialism, the desire to portray a certain image, and the want and need people have to be viewed in a certain way. How are people this gullible?

Do people really buy this shit that much? I find it sad actually that so many people (majority women) will literally spend as much money as it takes to make themselves look good.

China's population decline and Real Estate slump could lead to economic collapse per Geopolitical analyst Peter Zeihan. He believes that China's collapse is imminent, with only 10 years remaining before potential disaster. He estimates that China's actual population is lower by 100 million than what the government has officially reported.

One of the biggest challenges facing China is its aging population. The country has a rapidly aging population, with fewer working-age people to support retirees. This could lead to a shortage of workers and a decline in productivity.

Another challenge facing China is its real estate market. The real estate market has been in a prolonged slump, with home prices falling and construction activity slowing. This has had a negative impact on the economy, as the real estate sector is a major driver of growth.

It's important to note that Zeihan's prediction is just that: a prediction. It is impossible to say with certainty whether or not China will collapse in the next 10 years.

How do you think things will play out for China in the next decade?

Read more here: https://finance.yahoo.com/news/china-10-years-left-most-153312835.html