Garpal Gumnut
Ross Island Hotel
- Joined
- 2 January 2006
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I thought I'd start a stock and economic thread on Trump' next Presidency and his effect on economies and stocks. He has already moved markets, indices and commodities and he has not yet even been inaugurated. I subscribe at a cheap rate to the New York Times, ( to do Wordle and share results with some fellow Wordlers ).
It is an absolute left wing rag full of the usual woke propaganda. I'll probably not renew.
Below is an email I received this evening from the NYT which seems reasonable in it's assessments.
Global stocks are falling, and the dollar is climbing. The volatility comes after President-elect Donald Trump’s vow to impose tariffs on the United States’ biggest trading partners — Canada, China and Mexico — on Day 1 in office in an apparent effort to clamp down on the flow of cross-border drugs, like fentanyl, and migrants.
The latest:
Today’s losses have reversed some of yesterday’s “Bessent bounce” rally. Investors were relieved after Trump picked Scott Bessent, the market-friendly hedge fund mogul, to run the Treasury Department.
But the reverberations show that it’s Trump calling the shots. The president-elect has made no secret of his desire to use tariffs to further his America-first agenda, and he has yet to announce his pick to be U.S. Trade Representative. (Another tariff supporter, Robert Lighthizer, is in the running.)
Trump’s latest threats may be just a negotiating tactic. That’s the belief of some Trump backers, including Bill Ackman, the billionaire financier. But they are a reminder of how Trump set off alarm bells across diplomatic channels and international markets during his first term often via social media posts. “Waking up to check the tweets for any policy announcements could become the norm,” Mohit Kumar, an economist at Jefferies, wrote in a note this morning.
Prime Minister Justin Trudeau of Canada spoke to Trump about trade and border security after the president-elect’s announcement, The Times reported.
China pushed back. “No one will win a trade war,” a spokesman for the Chinese Embassy in Washington said in a statement.
Tying the tariffs to border security could make negotiations even trickier. But given the seemingly intractable nature of the U.S. border crisis, it sets a high bar for successful trade negotiations. On the flip side, calling the measures a national security imperative might bolster Trump’s legal authority to bypass Congress in enacting the measures. A reminder: once tariffs are introduced, they’re not easy to roll back.
gg
It is an absolute left wing rag full of the usual woke propaganda. I'll probably not renew.
Below is an email I received this evening from the NYT which seems reasonable in it's assessments.
|
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President-elect Donald Trump’s economic policy is already roiling global markets. Brendan McDermid/Reuters |
The other Trump trade
Investors and policymakers are getting a dose of Trumponomics déjà vu this morning.Global stocks are falling, and the dollar is climbing. The volatility comes after President-elect Donald Trump’s vow to impose tariffs on the United States’ biggest trading partners — Canada, China and Mexico — on Day 1 in office in an apparent effort to clamp down on the flow of cross-border drugs, like fentanyl, and migrants.
The latest:
|
But the reverberations show that it’s Trump calling the shots. The president-elect has made no secret of his desire to use tariffs to further his America-first agenda, and he has yet to announce his pick to be U.S. Trade Representative. (Another tariff supporter, Robert Lighthizer, is in the running.)
Prime Minister Justin Trudeau of Canada spoke to Trump about trade and border security after the president-elect’s announcement, The Times reported.
China pushed back. “No one will win a trade war,” a spokesman for the Chinese Embassy in Washington said in a statement.
Tying the tariffs to border security could make negotiations even trickier. But given the seemingly intractable nature of the U.S. border crisis, it sets a high bar for successful trade negotiations. On the flip side, calling the measures a national security imperative might bolster Trump’s legal authority to bypass Congress in enacting the measures. A reminder: once tariffs are introduced, they’re not easy to roll back.
gg