Tariff Shenanigans are Undermining the Market

Tariff Shenanigans are Undermining the Market

US markets have just registered a technical correction that can be entirely attributed to Trump. It is a long time since we have seen such a negative impact on the markets on the changing of the US Presidency, if ever. So much for Trump being good for business! We have to ask how long these shenanigans will last until he wakes up to himself.

The tariffs have been receiving much of the attention last week but these can be quickly reversed, or increased, at the stroke of the pen. It is quite likely that the next President will back track on all of these measures, but that is not scheduled for another four years. We have to put up with them until then, or until a policy change.

What is far more significant and will be much longer lasting is the embracing of Putin and the abandonment of Europe. It is often said that trust takes many years to build but it can be destroyed almost overnight by one foolish act. More than one person has suggested the Putin must have compromising photos of Trump.

It is incredible that one man can create so much destruction of trust in such a short space of time. The damage to America's reputation is the most significant event of the 21st century so far. We can only speculate as to what the short and long term repercussions will be, but they will certainly be life changing for many countries and their peoples ... especially if it results in a contagion of conflict around the world. One positive that might come out of it is stronger political leadership rather than the pansy fractionated style that has flourished around the globe under the banner of political correctness.