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Analyst: Trump's Weekend Tariff Increase Once Again Tests Market Resilience
BlockBeats News, July 13th: An analyst stated that the financial markets, which are becoming increasingly insensitive to the U.S. tariff threats, will face a test at the Monday open. Previously, over the weekend, Trump announced a 30% tariff on the EU and Mexico starting from August 1st. Trump has recently escalated trade measures, pledging to impose more tariffs on all countries from Canada to Brazil to Algeria, and inviting trade partners for further negotiations. Despite warnings from JPMorgan Chase CEO Jamie Dimon and others not to take it lightly, investors' reaction so far seems to be counting on the U.S. president to back down once again, as they have witnessed his previous 180-degree turn. Brian Jacobsen, Chief Economist at Annex Wealth Management, stated: "Investors should not merely see Trump's 30% tariff threat on EU goods as a bluff; this tariff level is punitive, but the harm to the EU may be greater than the impact on the U.S., so the clock is ticking." (Jinse Finance)
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