This past Thursday, President Trump did it again–and so did the financial markets. In a Truth Social post, Trump said that he would be carrying through next week on his previously delayed threat to slap 25% tariffs on Canadian and Mexican goods because (he said) these neighbors weren’t doing enough to stop drugs at the border. Then, in the oval office later, he said China would get hit with an additional 10% levy—taking the total to 20%. The market’s response was swift and...
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