Yesterday’s NY Times guest Op/Ed confirmed our suspicions about President Trump,
Furthermore, we don’t believe President Trump is a free trader at heart but more of a protectionist and neo-mercantilist. There is no “Art of the Deal” – see his waffling on immigration – and no method to the administration ’s madness to negotiating anything, for that matter, but only driven by impulse and myopia. — Global Macro Monitor, June 24, 2018
Anyone who works with him knows he is not moored to any discernible first principles that guide his decision making….President Trump’s impulses are generally anti-trade and anti-democratic. – Anonymous, NY Times, September 5, 2018
Today it’s solidified,
The market has been in complete denial on this issue dismissing the trade war rhetoric as “Art of the Deal” nonsense. We suspect the market is in for a nasty reckoning when they have their epiphany. Stay tuned.
(updated Sept. 7, 2:22 eastern)
Source: Daily Mail