Ray Dalio, founder of the world’s largest hedge fund, told NBC News that President Trump’s economic agenda could lead to a “breaking down of the monetary order” as he ramps up tariffs on China.
…
“China has suspended exports of a wide range of critical minerals and magnets, threatening to choke off supplies of components central to automakers, aerospace manufacturers, semiconductor companies and military contractors around the world,” the New York Times reports.
“Shipments of the magnets, essential for assembling everything from cars and drones to robots and missiles, have been halted at many Chinese ports while the Chinese government drafts a new regulatory system. Once in place, the new system could permanently prevent supplies from reaching certain companies, including American military contractors.”…
…
“President Trump signaled on Sunday that he would pursue new tariffs on the powerful computer chips inside smartphones and other technologies, just two days after his administration excluded a variety of electronics from the steep import taxes recently applied on goods arriving from China,” the New York Times reports.
Wall Street Journal: Trump says “Nobody is getting off the hook” on tariffs.
…
Jerusalem Demsas: “Watching the wild lines of the S&P 500, U.S. Treasury bond yields, and various foreign markets is how I’ve spent most of the past week. This felt familiar; I’d spent much of 2017 doing the same, following the vagaries of the first Trump administration and tracking the markets’ reactions like a nurse checking a patient’s heart rate.”
“But despite that familiarity, this isn’t the same as last time. I actually wish it were. This time, there’s no coming back from this quickly. Whoever is elected the 48th president won’t be able to easily rebuild what Donald Trump is busy destroying. Countries can and will move on without the United States. Their firms will establish new supply chains and pursue other markets. Even if the U.S. were the ultra-dominant trading partner it used to be, the credibility of the nation’s promises, its treaties, its agreements, and even its basic rationality has evaporated in just weeks.”
…
“President Trump’s rapidly escalating trade war with China has resulted in eye-watering tariffs on products exchanged between the countries and scrambled prospects for many global businesses that depend on the trade. And there is no end in sight,” the New York Times reports.
“The Trump administration has been waiting for the Chinese leader, Xi Jinping, to call Mr. Trump personally, but Beijing appears wary of putting Mr. Xi in an unpredictable and potentially embarrassing situation with the U.S. president.”
“With the two governments at an impasse, businesses that rely on sourcing products from China — varying from hardware stores to toymakers — have been thrown into turmoil. The triple-digit tariff rates have forced many to halt shipments entirely.”
Politico: Forget tariffs — Beijing is already choking off US exports on the sly.
Note….
I will repeat here…
I believe Donald Trump IS IN Over his head with Tariff’s…..
He carries the United States of America on his back….
Leave a Reply
You must be logged in to post a comment.