This week in Trumponomics: The Trump trade war starts to hurt
https://finance.yahoo.com/news/week-...161250141.html
Here’s a roundup of Wall Street sentiment on the Trump trade war from the last few days:
“A trade war coupled with a confidence shock could push the US to the brink of recession.” – Bank of America Merrill Lynch
“The bumpy road ahead suggests uncertainty will remain high and will continue to have an adverse impact on sentiment and activity.” – Citibank
“Equities continue to be stuck in their ‘fat and flat’ range after renewed concerns on trade conflict drove a global risk-off.” – Goldman Sachs
Trump is essentially playing chicken with financial markets, hoping his madman approach to economic pain will force trade partners to blink first. But they’re not blinking. Instead of making concessions, China, Canada and the European Union have all raised tariffs on imports from the United States in the same proportion as Trump has raised tariffs on imports from those nations.