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And this is from one of the few entities who have been willing to loan Trump money. I'd guess they are re-thinking that now:
"President Trump’s trade battles are costing the U.S. stock market $5 trillion and counting, according to Deutsche Bank.
Given the bulk of equity returns come from equity price appreciation, in an escalated trade war with China and now Mexico, the U.S. is losing trillions of dollars in foregone returns as markets sink on the negative headlines, the bank said Friday.
“The costs of the trade war in our view are about its indirect impacts,” said Deutsche Bank chief strategist Binky Chadha in a note to clients. “The trade war has been key in preventing a recovery in global growth and keeping US equities range bound. Foregone US equity returns from price appreciation (12.5% annual rate) for 17 months are worth $5 trillion.”..."
Senate Finance Committee Chairman Chuck Grassley (R-Iowa) condemned President Trump's new tariffs on Mexico late Thursday, calling the move a "misuse" of presidential tariff authority and cautioning the levies could derail passage of the United States-Mexico-Canada Agreement (USMCA). https://thehill.com/homenews/senate/...iffs-on-mexico
This little tariff tantrum is a bit of a boner move. So far, nobody supports it, including Trump's senate GOP devotees. In fact they appear shocked. Mnuchin is obviously a potted plant at this point.
Right about now Grassley, et. al. are probably thinking about all those failed Trump businesses...
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