“In the last few days, we have had many conversations with macro fund managers,” wrote Tom Lee, the head of research at the financial analysis firm FSInsights.
“And their concern is that the White House is not acting rationally, but rather on ideology. And some even fear that this may not even be ideology,” Lee continued. “A few have quietly wondered if the President might be insane.”
Lee placed the blame for any economic fallout squarely in Trump’s lap, arguing that Trump’s decisions behind the Resolute Desk lead to a “binary outcome,” though they don’t always make sense.
[...]
"[T]the longer this volatility lasts, the greater the risk the US and the world are getting pushed into a needless recession,” he warned.
Other financial experts, including JP Morgan Chase CEO Jamie Diamond, have similarly assessed that Trump’s plan has pushed the U.S. to the brink of a recession.
New Republic
The S&P 500 was down 2.3% early Thursday, a day after surging 9.5% following President Donald Trump ’s decision to pause many of his tariffs worldwide. The Dow Jones Industrial Average was down 685 points, and the Nasdaq composite was down 2.9%.
Independent UK
And the European Union is, in fact, working with China.China increased its tariffs on US imports to 125 per cent, vowing to ‘fight to the end’ in a trade war that threatens to up-end global supply chains.
The hike, hitting back against Donald Trump's decision to hike duties on Chinese goods to 145 per cent, will come into effect on Saturday.
Reacting to the news, the US dollar index fell 1.2 per cent to 99.50, marking its lowest level since April 2022.
[...]
Chinese President Xi Jinping made his first public comments on the tariff war on Friday, urging the European Union to join China to “oppose unilateral acts of bullying”.
As quoted by state broadcaster CCTV, he said: “There are no winners in a trade war, and going against the world will only lead to self-isolation.”
Independent UK
UPDATE 04/12/2025:
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