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China Planning Tariffs On U.S. Steel, Aluminum – We’re Gonna Need More Chocolate Cake
Here we go, folks.
As if the backdrop needed to get any more fraught after Thursday's bloodbath on Wall Street, these headlines suggest things could get uglier in a hurry :
CHINA PLANS RECIPROCAL TARIFFS ON US STEEL AND ALUMINUM PRODUCTS
CHINA PLANS TARIFFS ON $3B OF U.S. STEEL, ALUMINUM, PORK, WINE
More details from Bloomberg:
China said it doesn’t fear at trade war with the U.S. and announced plans for reciprocal tariffs on $3 billion of imports from the U.S. in the first resp
Hopefully our congressional ‘leaders’ will fund plenty of chocolate cake in their current spending bill.
Apparently it’s quite a piece of work: 2,200+ pages and $1.3 trillion worth of earmarks and pork.
We’re going to need plenty of forks in any case. Stick one in the U.S. economy – it’s done!
Pork chops will get cheaper!