President Trump 2.0

[1andrew1]

Originally Posted by jfman

A creative way of saying employment rights are so bad in the USA and millions were paid off during COVID lockdown plus restrictions in 2020 who re-entered the workforce in 2021.

Anyone in their sleep could have achieved similar.

The USA has enjoyed far and away the best growth of the G7 post Covid. It's a big stretch to put this down to lax employment rights which would be more relevant in times of recession, as we may see under Trump.

Markets are continuing to drop, this is far more than a correction now. Goldman Sachs think there is a 45% chance of a global recession now. Up from 20% on Friday.

Retroactive tariffs now…

https://news.sky.com/story/tariffs-l...#liveblog-body

Europe has treated the US "very badly", Donald Trump has said several times since beginning his second term in the White House.

He said it again overnight, this time taking aim at the EU's trade surplus with the US.

"We take their cars, Mercedes, Volkswagen, BMW... we take millions of cars, they take no cars," he said aboard Air Force One.

"They don't take our farm product, they don't take anything. Europe's treated us very badly. We put a big tariff on Europe."

Trump added the EU is "coming to the table", and "wants to talk", but said any agreement would have conditions.

"There's no talk unless they pay us a lot of money on a yearly basis," he added.

"Number one - for present, but also for past, because they've taken a lot of our wealth away, and we're not going to allow it to happen."

On Wednesday, the EU is set to be hit with a 20% tariff.

FTSE down 5%. This is worse than COVID and he is doubling down overnight.

[Sephiroth]

I've no objection to the EU getting a kicking from the USA, even if it is misguided! Implosion of the EU wouldn't be a bad thing, imo, especially if France and Ireland get got!

But setting aside my whimsical muses, Trump ignores market facts: USA farm produce needs to meet food standards and that's on the USA. For Europe, or anyone, to take USA cars, they need to be attractive and well marketed - rule #1.

Given that Trump is operating on a different plane of logic, there is no sensible outcome in view and this thing will run its course through natural global economic forces.

Btw, this might be a good time for Europe + UK to sort something sensible out with China!

Also btw, Musk seems to be beginning to see the light as his Tesla fortune leaks away. Is this the start of turmoil in the USA?

[jfman]

Originally Posted by 1andrew1

The USA has enjoyed far and away the best growth of the G7 post Covid. It's a big stretch to put this down to lax employment rights which would be more relevant in times of recession, as we may see under Trump.

Yes but that’s a far wider point than the one I quoted.

Unfortunately, if the retrospective tariffs go ahead on the EU, how long before they are imposed elsewhere?

I wonder at what point Republicans step up the pressure. I've noticed some of his public supporters outside of politics are questioning the logic here but Congress remains loyal to him.

[1andrew1]

Originally Posted by Damien

FTSE down 5%. This is worse than COVID and he is doubling down overnight.

Johnson: "I got the most self-inflicted economic damage to the UK over the line. Thanks to me, everyone will be 4% worse off and tax rises will be all but inevitable."
Trump: "Hold my beautiful all-American alcohol-free beer!

[Sephiroth]

Originally Posted by 1andrew1

Johnson: "I got the most self-inflicted economic damage to the UK over the line. Thanks to me, everyone will be 4% worse off and tax rises will be all but inevitable."
Trump: "Hold my beautiful all-American alcohol-free beer!

So, you want Trump's 20% tariff? You don't want the UK to have a global free hand?

My SIPP drawdown fund YTD…

I updated my pension a couple of weeks ago to remove a lot of the volatile stuff, and move it to more "safe" funds.
As a result the hit has been a lot less, its lost 0.7% so far.

[GrimUpNorth]

My share portfolio lost 5.48% today.

Markets up today so at least the bleeding has stopped, until Trump does something else of course.

[jfman]

It’s a success now everyone has got used to it. That’s how this short term judgement based on 12 hours of global stock market activity works right, no?