You already know the story. Donald Trump has "succeeded" in starting a global trade war and although investors were more than willing to buy the dip in U.S. equities for three consecutive days following the worst start to a Q2 in 89 years on Monday, everyone ran fresh out of patience on Friday. And it's no wonder. The Thursday night escalation seemed even more puerile than usual and quite clearly represented Trump attempting to control any political fallout from China's efforts to target the Midwest with their reciprocal actions. Recall this from Bloomberg: China on Wednesday said it would issue 25 percent retaliatory levies on roughly $50 billion of U.S. imports, including soybeans, cars, chemicals and aircraft. These levies appear to be targeted at states, particularly in the Midwest, where Trump’s support is strongest. But, crucially, many of these states also have pivotal Senate and gubernatorial races in November. The economic blow from new tariffs could upend many of these races, potentially shifting control of statehouses and the U.S. Senate to Democrats. Trump wants to stop that immediately for obvious reasons. It seems likely that he was caught off guard by China's
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3 comments on “$100 Billion Dollars!

  1. Peter says:

    Yup, it’s not the immigrants themselves who are the rapists. In fact, they are the victims. The usual mis-direction and issue-conflation from David Dennison’s people at The White House.

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