China Strikes Back With Tariffs On $75 Billion In US Goods
On Friday, Global Times editor Hu Xijin warned that retaliatory tariffs from Beijing were imminent, as the next phase in the Sino-US trade war looms.
"Based on what I know China will take further countermeasures in response to US tariffs", he tweeted, presaging action from Xi.
As usual, Hu's tweets proved remarkably prescient for a newspaper editor. Less than an hour later, China's Ministry of Finance rolled out the countermeasures on its website.
Read more: China To Unveil Retaliatory Tariff
This will be a wild day/weekend…what will Trump do now? What will the Fed do? The G7 will be another diaster with Trump no doubt in a sour mood. Yep, trade wars are good & easy to win.
I am hedging reality using stupidity. So far it seems to work. Reality, is what is going on, and it’s effects on macro. Stupidity, is the market reaction and expectations of cuts. Seems to work so far.
Well, action and reaction, what’d you expect?
And Mitch just sits on his thumbs and says nothing.