Goldman No Longer Sees Trade Deal Before 2020 Election, But It’s Not All Bad News
Analysts are throwing in the towel on the prospects for a trade truce between Donald Trump and Beijing.
After 14 months of headline hockey and policymaking-by-tweet, markets are suffering from an acute case of whiplash. The August 1 escalation, which found Trump breaking the Osaka truce just a month after it was agreed, left many observers exasperated.
China has clearly seen enough. The yuan devaluation was a warning shot and, frankly, the fact that Beijing didn't let the currency fall further
Of course there’s always the chance the (Republican controlled) Senate will take back the responsibility to apply tariffs from the idiot in charge. But that would mean Mitch would have to put the people’s interest above all else. So I guess there’s no chance that’s happening. Two assholes in charge of the country. Who’d have thunk it.
yeah, there for a while, it looked like the GOP was going to try to strip him of his ability to transform himself into “tariff man”, but that push faded away
Um… duh? This has been pretty obvious for a while. Trump needs China as an election issue to rile up his low information base. They believe any lie they are told. He have “achieved” the idiocracy.
So Goldman says that, from a GDP perspective, tariffs are manageable. But when they show up as inflation in consumer goods, what happens to that significant number of Americans who couldn’t meet an unexpected $500 expense or work two jobs to make ends meet.
Sadly many people in the country are living at the margins where those small percentage changes make a huge difference in daily living