- cross-posted to:
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- cross-posted to:
- [email protected]
Summary
Trump had to reverse his aggressive tariff rhetoric after CEOs from Walmart, Target, and Home Depot warned of empty shelves and higher prices due to supply chain disruptions.
Investors reacted negatively to his threats against Fed Chair Jerome Powell, prompting a market sell-off.
Trump backtracked, expressing optimism on a China trade deal and now denying plans to fire Powell.
Global markets remain volatile, and the IMF cited Trump’s trade war as a “major negative shock” to global growth.
That’s true. The US has been interfering in other country’s domestic affairs for decades. Organising the odd coup, overthrowing elected leaders. Suddenly people are shocked to learn that it can work both ways.
A country with strong democratic institutions are pretty resilient to these tactics. You might not trust the politicians, but you trust the officials, the military and the courts.
It seems that the US has dismantled trust in these institutions for a long time. It has let corporations run the show. So Russia and China have an easier task.