Trump's belligerence on tariffs is a negative for risk, at the margin.
Comments now from Trump:
Trump didn't specify any tariffs in particular. Maybe just a blanket move, but who knows?
Yesterday we had a colleague of his emphasising Trump's commitment to tariffs:
Republican Senator says Trump is 'dug in' on tariffs, 'like a tick'The recession narrative continues to gain pace. There are plenty of market participants eyeing the deliberate Trump engineering of a recession as a danger, in that once an economic collapse starts its difficult to finesse.
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