Good morning friends,
The last thing we want to do is get involved in politics. πΊπΈ
But Trump's move to declare Trade War #2 and impose new tariffs is so controversial that we couldn't resist at least telling you why our week is going to open in the red. π½
Anyone who peeked at futures surely saw that we are starting the week in the red. π
But the question is -
Is the market's doomsday scenario happening? π±
Let's summarize the situation for you -
Trump opens a new trade front β against China, Canada, and Mexico. π¨π¦π¨π³π²π½
π Starting February 6:
25% tariff on imports from Canada and Mexico. βοΈ
10% tariff on products from China. βοΈ
10% tariff on oil from Canada. βοΈ
And 25% on Mexican oil. βοΈ
US President Donald Trump signed an order imposing a 25% tariff on imports from Mexico and Canada, as well as a 10% tariff on China and energy resources from Canada β according to a senior administration official β the tariffs will take effect in a few days β on February 6. π€
But it doesn't end here -
The leaders of the countries on which the tariffs were imposed issued belligerent statements about revenge (!) π₯
- China is considering retaliatory measures π¨π³
- In Canada, American products are being removed from stores. π¨π¦
- And Mexico is threatening counter-tariffs in response to the US. π²π½
Economists warn β danger of stagflation and recession in Canada and Mexico following Trump's tariffs. π
And Trump? He's doing his thing - π
βIf they retaliate? - We'll raise tariffs even more! And more!Χ΄π€
Meanwhile, markets are panicking and futures are plummeting following the opening shot of a new trade war - the US π€π€ the world! β
What do you think about Trump's move, which seems like the opening shot of Trade War #2? πΊπΈ
I'm in favor - π
I'm against - π¦