Maybe I’m an optimist or crazy but I think there will be some walking back of these this week in terms of “making deals” with other countries. This can’t keep on. Some super rich people are going to get margin called and they are not going to be pleased about that.
I think the super rich people don't hate the downturns because they usually have cash to buy more at reduced prices.
It's the normies where the pressure would come from and I was initially somewhat optimistic that might make him walk it back, but I made the mistake of going on Twitter today and I've flipped on that because people are buying the "reciprocal" thing hook line & sinker.
Most people seem to genuinely believe that Vietnam's government has a 92% tariff on US goods and that's why we're putting tariffs on them, generously priced at only half their tariff rate.
When the EU hinted at retaliatory tariffs today 99% of the reply tweets to it were people completely dumbfounded as to why the EU would retaliate against tariffs that are already retaliatory against their alleged already existing tariffs on the US.