Legal AF by MeidasTouch - Mexico HUMILIATES Trump in Trade War ON WALL STREET

Episode Date: December 2, 2024

Wall Street has declared Mexico the clear winner in the trade war sparked by Donald Trump’s social media provocations. The Peso has surged against the dollar after President Claudia Sheinbaum decisively outmaneuvered Trump, warning that his antics could jeopardize 500,000 U.S. jobs and drive up prices for American consumers. Michael Popok breaks it all down through his Wall Street lens, explaining how Mexico came out on top. Try VIIA Hemp! https://bit.ly/viialegalaf and use code LEGALAF! Visit https://meidastouch.com for more! Remember to subscribe to ALL the MeidasTouch Network Podcasts: MeidasTouch: https://www.meidastouch.com/tag/meidastouch-podcast Legal AF: https://www.meidastouch.com/tag/legal-af MissTrial: https://meidasnews.com/tag/miss-trial The PoliticsGirl Podcast: https://www.meidastouch.com/tag/the-politicsgirl-podcast The Influence Continuum: https://www.meidastouch.com/tag/the-influence-continuum-with-dr-steven-hassan Mea Culpa with Michael Cohen: https://www.meidastouch.com/tag/mea-culpa-with-michael-cohen The Weekend Show: https://www.meidastouch.com/tag/the-weekend-show Burn the Boats: https://www.meidastouch.com/tag/burn-the-boats Majority 54: https://www.meidastouch.com/tag/majority-54 Political Beatdown: https://www.meidastouch.com/tag/political-beatdown On Democracy with FP Wellman: https://www.meidastouch.com/tag/on-democracy-with-fpwellman Uncovered: https://www.meidastouch.com/tag/maga-uncovered Coalition of the Sane: https://meidasnews.com/tag/coalition-of-the-sane Learn more about your ad choices. Visit megaphone.fm/adchoices

Sure, I could tell you winter's coming or that it brings cold, dry air, but you already knew that. What you might not know is that Dove Deep Moisture Body Wash is made with millions of moisturizing micro-moisture droplets to keep your skin silky soft for 24 hours. Plus it's paraben and sulfate free. No matter how dry your skin feels, Dove has you covered. Buy Dove Body Wash today at your local retailer or visit Dove.ca to learn more and order online.

As the world's population grows, so does the need for resources like potash to support sustainable food production. This is why BHP is building one of the world's most sustainable potash mines in Canada. Essential resources responsibly produced. This is what BHP has committed to Canada. The future is clear. It's happening now at BHP, a future resources company. To discover how, visit BHP.com slash betterfuture.

This is an ad from BetterHelp. This holiday season, do something for a special person in your life. You. Give yourself the gift of better mental health. BetterHelp online therapy connects you with a qualified therapist via phone, video, or live chat. It's convenient and affordable and can be done from the comfort of your own home. Having someone to talk to is truly a gift, especially during the holidays. Visit BetterHelp.com to learn more and save 10% off your first month. That's betterhelp.com.

Your teen requested a ride, but this time, not from you. It's through their Uber Teen account. It's an Uber account that allows your teen to request a ride under your supervision with live trip tracking and highly rated drivers. Add your teen to your Uber account today. The all-new FanDuel Sportsbook and Casino is bringing you more action than ever. Want more ways to follow your faves? Check out our new player prop tracking with real-time notifications.

Or have out more ways to customize your casino page with our new favorite and recently played games tabs. And to top it all off, quick and secure withdrawals. Get more everything with FanDuel Sportsbook and Casino. Gambling problem, call 1-866-531-2600. Visit connexontario.ca. In the shooting match between the US and Mexico over Donald Trump's threatened tariff war,

there's a clear winner. And her name is Claudia Scheinbaum, the new president of Mexico. Donald Trump probably thought he could try to pick on her since she just got elected a couple of months ago and she fired back and the markets have responded in praising her and also the peso trading market has responded by declaring that the winner is Mexico because now the peso is 1.5 percent higher than it was before the attack by Donald Trump against the dollar I'm gonna use my Wall Street background to talk to you here on legal AF the Midas Dutch Network

About this phony trade war that Donald Trump has started and then once sheinbaum retaliated Tony trade war that Donald Trump has started and then once Shinebaum retaliated, he backed down, the markets watched and responded by lifting the peso against the dollar. Let me break it all down for you. A couple of weeks ago, Donald Trump thought it was in the economic best interest of average Americans to do two things, deport 40% of the undocumented workforce that fires and powers sectors like construction and our food supply and our internet commerce. In the same time he said why don't I start a trade war

and tax Mexico and Canada 25% in tariffs and China 10% representing 40% of our trading partners. Well, Mexico and Canada immediately fired back in different ways. There's reporting and I'll probably do a hot take on it about Trudeau heading down to Mar-a-Lago maybe on bended knee, forced there by his government to make nice with Donald Trump and to try to convince him in a meeting he just held along with Donald Trump's economic team, including his new commerce nominee, Howard Lutnick, and some other people in the room

about trying to avoid the 25% tariff. But that's not what Claudia Scheinbaum did. Maybe because she's an economist, maybe because she has a doctorate, maybe because she's really tough and really smart. And so she immediately did two things that the Canadians did not do. She issued a letter in Spanish in response to Donald Trump in which she threatened her own 25% tariff, which economists have shown will lead to the following dire impacts on the US economy. An immediate loss of a half a million jobs on the US side of that dispute.

Half a million jobs, poof, could buy overnight because of the trade war. And a substantial increase in the cost of living for Americans. I thought that's the reason of living for Americans. I thought that's the reason people voted for him. I mean I keep hearing the two reasons that Kamala Harris and Democrats lost, besides some issues with her candidacy and the fact that there wasn't a primary system that selected her, but was that people voted with their pocketbook in their wallet and they were upset about immigration and a couple of culture war issues that apparently the Democrats obviously lost

about protection for the LGBTQ plus community. But I thought it was really all about the economy. I didn't realize that we had given Donald Trump a quote unquote mandate of quote unquote historic proportions, none of which is true, in order to wreck our economy or to do a science experiment. Let's see what will happen. And so Scheinbaum reminded Donald Trump in her letter on official President Mexico letterhead

that the two major exporters out of Mexico who will be hit with the 25% tariff are, if she does her side of the tariff, General Motors and Ford, who have been in the country for almost 100 years, making products in their plants in Mexico. No, they would not escape a 25% retaliatory tariff imposed by Mexico. Is that what they wanna do? And that's where a lot of the half a million jobs

on the other side come out and the higher costs. Now, the market, let me turn to my prior Wall Street background here, the market has responded and the peso traders, there's currency traders, what we call foreign exchange traders, FX traders, they sit there making money on the arbitrage between the, a certain, it could be a sort of a straddle or a butterfly. What that means is they're matching different currencies and trying to trade one against the other, the peso against

the dollar, the euro against the dollar or the peso, the Brazilian real against the yen. There's all sorts of things that you can match and bet on in a market with foreign exchange traders. And so that market has already spoken about who they saw as the winner of that tough guy's stance that Donald Trump made before he even got in office. He's already conducting a legal foreign policy before he even got into office, right?

We have one president at one time. We have one set of policies around our economy, around foreign policy, around national trade, and that's being conducted by the Biden administration until January 20th at noon. No, Donald Trump is already open for business, literally, selling off our policies to the highest bidder, and has just decided that he likes the optics

of having Canada and Mexico come and kiss his backside. Kiss his ass. Do you need a break from the crowded stores and endless gift lists? Restore your zen and embrace the natural power of cannabis this holiday season with VIA. Whether you're enjoying a quiet evening at home or embracing the festive cheer.

VIA's premium THC and THC-free gummies will help you find your perfect holiday balance. VIA is well-renowned for their award-winning THC and THC-free gummies and vapes, THCA flour, soothing topicals, and calming drops. All crafted with the highest quality hemp sourced from trusted, independently owned American farms. And the best part? VIA legally ships to nearly all states in the U.S. in discrete packaging directly to your door with a worry-free guarantee, no medical card required. Their Cloud9 relief gummies help me unwind and relax after a long stressful grind of a day and help me maximize my sleep. So if you're 21 plus, check out our link to Vaya's website in our description and

use code LegalAF for 15% off. Unlock the power of nature with Vaya's organic and vegan hemp extracts, perfect for relaxation and rejuvenation. Vaya is the only lifestyle hemp brand. They use compounds found in hemp along with active plant extracts to create products, each with a specific effect in mind. Whether you want to get better sleep, ease anxiety, enhance your mood, or just relax, they have something for you. They also have zero THC products. And

if THC isn't for you, you can still take advantage of their CBD line with products designed for sleep, focus, and energy that will keep you glowing all year long. Their products range from zero milligrams to a hundred milligrams of THC. so these guys have you covered. Whether you're looking to micro dose or enjoy more potent effects, the THCA flower strains are grown with care and rigorously tested to ensure the highest quality, free from harsh pesticides or nasty chemicals. Over a half a million customers served,

farmed and crafted with care in the United States. This holiday season, gift yourself some peace of mind. If you're 21 plus, check out the link to VIA in our description and use the code LEGALAEF to receive 15% off. After you purchase, they ask you where you heard about them. Please support our show and tell them that we sent you. This holiday season, enhance your every day with VIA. Canada, I'm going to do a separate hot take on.

Trudeau, you know, it looked a lot like, you know, Mika and Joe from Morning Joe heading down to Mar-a-Lago. You know, we're not biased. We're going to turn a page. You know, people forget, by the way, on the Mika and Joe thing. Go listen to their show back in 2016 and before. They were pro-Trump. Or let me put it this way, they weren't anti-Trump. He used to phone into the show,

hello Joe, hello Mika, go find the clips. So everyone's like up in arms like, oh Joe and Mika, they were so critical and now look at them because they're worried about their FCC license and being put into a concentration camp. But they were pro-Trump before. I don't see this as a major flip for them. We're not flipping. And it's not like you woke up and might as touch network and legal AF were suddenly going, let's give Trump a try. Maybe we were wrong.

For the good of America, let's just sit and wait and not protest or analyze or resist. Let's not file any lawsuits. Let's just sit back and let his MAGA Project 2025 policies take effect. And then we can judge, you know, six months or two years from now. No, we didn't. You don't wake up to that world. It's not the upside down world. But Trudeau decided from Canada, oh, I better get down there.

He wants me down there. He stayed at some who knows what hotel in West Palm Beach. Didn't even stay in Palm Beach at a nice hotel. I'm from that area, so I can tell you. Trudeau, why didn't you stay at the Breakers or at the Brazilian Court or something? I don't know why you stayed in this hotel in West Palm Beach, but you did. And then you got to like schlep over with your black cars and go to Mar-a-Lago and meet with all these people, most of which have never been in government before, to try to talk about why Canada is not responsible for the fentanyl addictions in America or drug supply nor from... It's not a porous border.

People aren't pouring in through Canada, you know, Nova Scotia into Maine, you know, bad people. So the whole thing was sort of a Kabuki theater orchestrated by Donald Trump. And you either play it or you don't play it. And Claudia Scheinbaum is not playing. She's like, legal AFU. I'm not doing that. You want a trade war? Bring it. Even the dueling social media posts show you who won that particular battle. Donald Trump said, just had a great call with Claudia Scheinbaum of Mexico. She's fully on board with closing the southern border and stopping migration. MAGA 2025. And an hour later, Claudia Scheinbaum

posts her own interpretation of the phone call where she said that Mexico's stance is not to close the borders, but they believe in building bridges with communities. And the Wall Street market went, yeah, we're going to vote for Claudia Scheinbaum on that one. And the peso price has now gone up. It'll be volatile because what traders now have to do is

We're back in the world of them of them sort of being Hurtled around and being pulled and dragged around by competing social media posts because Donald Trump's gonna conduct foreign policy and Economic policy again through social media posts, because Donald Trump's going to conduct foreign policy and economic policy, again, through social media, through truth social. Here we go again. We in the legal media are going to have to go after that, have that declared his public account in order to get all copies of everything, because he's not going to use the official POTUS, President of the United States, X account, or wherever it is these days,

hopefully blue sky like the rest of us, but he's going to do it through his true social. That's why he built the platform and he needs more eyeballs over there. So he's going to start posting there left and right and we're going to have to react to it and the economy and the market is going to have to react to it. So we're back, in case you didn't figure this out and we're going to have to react to it. And the economy and the market is going to have to react to it. So we're back, in case you didn't figure this out, we're back to national security policy, trade policy, domestic policy, war and diplomacy through social media posts by Donald Trump.

And the markets are going to have to react, but they already are. So the winner for me right now, at least two zero, is Claudia Scheinbaum of Mexico against Donald Trump. We'll continue to follow it all right here using my background and experience as a practicing lawyer, somebody that has a Wall Street background and experience as well, as well as a trial lawyer litigating in the courts that I talk about. There's a few ways to support Legal AF if you like it, which I think you do.

You're already here. Hit the subscribe button for MidasTouch. We have a new Legal AF YouTube channel we formed just before the election. Already have almost 350,000 subscribers. We call it, what else? Legal AF. And I'm the chief curator over there. Some amazing new content.

You can't get anywhere else. If you can't get your fill of law and politics in that intersection, over to legal AF the YouTube channel in collaboration with the Midas Touch Network Boom hit the blue subscribe button and help us as you've heard at length We do not have outside investors at all We do this. This is people powered all people powered us on one side you on the other supporting us in the various ways. Midas Touch has a substack, Legal AF is going to have a substack. We got Patreon, we've got the podcast, we've got our advertisers, and we've got our subscribers.

That's how we exist. That's what keeps the lights on, so to speak. So until my next reporting for Legal AF, wherever it may be, I'm Michael Popak. In collaboration with the Midas Touch Network, we just launched the Legal AF YouTube channel. Help us build this pro-democracy channel where I'll be curating the top stories, the intersection of law and politics. Go to YouTube now and free subscribe at Legal AF MTN. That's at Legal AF MTN that's at Legal AF MTN. provider about EREXV. EREXV is a vaccine that helps to protect adults 60 years of age and older

from lower lung disease caused by respiratory syncytial virus, RSV. 100% protection cannot be guaranteed. Adverse events may occur. Learn more at erexv.ca.