Definitely. But the reciprocal tariffs lasted about 24 hours before being paused and the China climb down was huge. - ThreadSky

duncanweldon.bsky.social • 31 days ago

Definitely. But the reciprocal tariffs lasted about 24 hours before being paused and the China climb down was huge.

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The markets think the threats again China are bluffs while the threats against Europe are real, because both markets and Trump think China is strong and Europe is weak

dlknowles.bsky.social•31 days ago

Yeah and the other case for that is that Americans will probably notice less if they can't buy Prosecco or real cheese any more (albeit I bloody well will notice), whereas China tariffs will literally mean empty shelves at Target and Walmart

dlknowles.bsky.social•31 days ago

(The extent to which you can now buy good European food in American supermarkets is probably the thing that has changed most positively since when I lived here in 2014)

mattsteinglass.bsky.social•31 days ago

I remember in the late 80s riding out to the suburbs north of Boston to try a fascinating and unfamiliar form of coffee known as a “cappuccino”

mattsteinglass.bsky.social•31 days ago

Tbf my wife has similar stories from the Netherlands in those days

bobsyouruncle.bsky.social•31 days ago

Way underestimating how damaging even a short term threat is to the American economy.
People will not invest

dlknowles.bsky.social•31 days ago

True but even then it is all claimed to be temporary. The basic fact is Trump loves tariffs like a five year old loves drawing on walls with felt tip pens and will seek to impose more basically any moment Scott Bessent lets him out of sight

duncanweldon.bsky.social•31 days ago

Agreed.
We need a ‘Bessent learns about new tariffs’ version of this.

cyberspace7.bsky.social•31 days ago

I suspect the markets are going to keep gyrating until Trump drops this completely and just goes back to giving tax cuts to billionaires.

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