Trump flip flopped on tariffs Wednesday:
Bloomberg have some eye-opening analysis:
We calculated that post Trump “put” today, the tariff mix is actually worse
China exports more consumer goods to US than other countries, so boosting that (to 125%) relative to others will boost the hit to consumption goods
More:
Average
effective tariff rates are now 24% from 27% this morning. Still
massively anti growth, pro inflation, and anti risk assets.
This article was written by Eamonn Sheridan at www.forexlive.com.
