...it hasn't dawn on the markets yet that the post-Trump pivot tariff position is actually going to be worse for US consumers.
...Markets are the stage of now believing this 'clown show' would come down to just a universal 10% across the board, including possibly a deal with China.
...Getting Ahead of Itself, another blindside is surely in the offing.
We calculated that post Trump “put” today, the tariff mix is actually worse —China exports more consumer goods to US than other countries, so boosting that (to 125%) relative to others will boost the hit to consumption goods. https://x.com/AnnaEconomist/status/1910102356928180631
