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Donald Trump got crushed by China in his tariff negotiation. Don’t take my TDS-addled word for it. Here’s Bloomberg’s assessment.
There’s more:
China equities also surged as the deal—though only a 90-day delay—ended up meeting nearly all of the Chinese president’s core demands. The “reciprocal” tariff for China, which Trump set at 34%, has been suspended—leaving America’s top rival with the same 10% rate that applies to US allies like the UK.
“This is arguably the best outcome that China could have hoped for—the US backed down,” said Trey McArver, co-founder of research firm Trivium China. “Going forward, this will make the Chinese side confident that they have leverage over the US in any negotiations.”
Follow the money:
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When the American government acts, the U.S. stock market recoils.
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When the American government is crushed by the Chinese government, the U.S. stock market surges.
What does it tell you about the American government when American businesses are rooting for the Chinese to beat us?
A better question: Do Americans understand just how badly foreign markets are beating us because of Trump? Take a look at the performance of the main stock indexes in Germany, Japan, and China plotted against the Dow.
But before you click I have to warn you: This shit is gothic.
Great Job Jonathan V. Last & the Team @ The Bulwark Source link for sharing this story.
