EUR/USD
1.16146
-0.093%
Gold
4435.44
-0.839%
Oil
89.354
-0.319%
USD/JPY
156.224
0.274%
GBP/USD
1.35195
-0.037%
GBP/JPY
211.212
0.245%
Real-time News
On September 5th, US President Trump signed a series of executive measures aimed at supporting American ranchers, including curbing the dominance of large meat processing companies in the industry and pushing for new beef labeling rules. Trump stated that the government will establish programs to help ranchers sell directly to consumers and reduce the US beef processing industrys reliance on the "Big Four" meat companies. He called this reform, which ranchers have been demanding for decades, and an important action by the government to support farmers and ranchers. Previously, the Trump administrations plan to increase beef imports to lower consumer prices sparked discontent among American ranchers. Trumps measures include requiring all imported beef to be labeled with its country of origin and urging Congress to push for permanent regulations. US Agriculture Secretary Brooke Rawlings had previously criticized the earlier beef import plan, calling it a "heavy blow" to ranchers, but she also stated that Trump is a leader who supports ranchers.The U.S. Supreme Court upheld the policy that allows party committees to obtain advertising at lower rates, a victory for Republicans.On September 5th, US President Trump called the more than six-month-long US-Iran conflict "insignificant" and said he would not describe it as a major war. Trump stated on Friday that it was a "military conflict," but "not a big deal for us," and that there was no ongoing fighting between the two sides. Responding to Vice President Vances earlier statement that it "shouldnt be called a war," Trump said, "In many places, it is," and indicated that the US was currently only conducting intermittent strikes. Trump again compared the 18 US military personnel killed in the conflict to the Vietnam War and the Afghanistan War, saying, "Losing even one person is too much," but those two wars resulted in tens of thousands of US military deaths. He also stated that the US had achieved significant progress on the Iran issue. Polls show that the American public has a low approval rating for Trumps handling of the Iran conflict. The conflict has pushed up energy prices, putting pressure on Republicans to maintain control of Congress in the November midterm elections. Previous comments by Trump administration officials downplaying the impact of the conflict have also drawn criticism from Democrats.According to the U.S. Commodity Futures Trading Commission (CFTC), as of the week ending September 1, net short positions in the Swiss franc were 22,876 contracts. Net short positions in the British pound were 49,575 contracts. Net short positions in the euro were 24,925 contracts. Net short positions in the Japanese yen were 92,227 contracts.September 5th - According to the Wall Street Journal, the U.S. Department of Justices antitrust division was ordered this week to suspend all cooperation with the Canadian government, the latest development in the escalating trade dispute between the two countries. Linda Marshall, head of international affairs at the Justice Departments antitrust division, requested officials in an email to cease cooperation with Canada on cases and policy issues, but did not specify the reasons. The report stated that Justice Department officials indicated such directives are rare, as the U.S. typically cooperates with competition regulators in other countries, even if the governments are not closely aligned. The U.S. and Canadian antitrust agencies have a long history of cooperation, covering areas such as auto parts price manipulation, air freight investigations, and mergers and acquisitions in the technology and aerospace industries. This suspension of cooperation comes as the U.S.-Canada trade dispute continues to escalate. After trade negotiations broke down last month, the Trump administration imposed a 50% tariff on $20 billion worth of Canadian goods, and Canadian Prime Minister Mark Carney subsequently imposed similar tariffs on some U.S. goods. Neither the U.S. Department of Justice nor the White House has commented on this.
