Frustrated on tariffs, for now, Trump has lashed out in other areas today:
US will aggressively revoke visas of Chinese students (announced by Rubio)
US pauses export of airplane and semiconductor technology to China
Both of these should aid trade negotiations with China!
Disillusioned Musk, distanced from Trump, says he is exiting from Washington (but not before criticising Trump’s big beautiful bill for the deficit damage it will cause).
These are the tip of an iceberg of dissent where 90% is still hidden.
Over the next 6 months I reckon the Trump administration will be paralysed dealing with 100’s of legal challenges and hurdles.
How will markets react? Imo, every Trump setback will be celebrated with glee by markets. A 7500 close on S&P by year end is possible by a chartist I follow.
