Countries might ‘play Chicken’ with the US over tariffs, because to them it may look like there's ‘no way’ US will stick to these tariffs, and that US will keep trying for factories in 3 years.
US might just stick with the 10%. They seem to like it and the revenue from it.
1930 Senate passed Smoot-Holley tariff. People have been talking about that for a few days. Never heard of it before talked about by CNBC et al.
May rate cut back on the table, if no dramatic reversal on tariffs. Siegel.
Trade deficit might be lowered a bit because of this. But that will add to inflation.
Josh Brown's hedgefund or whatever went from 100% equities to 60 (or 40) % bonds on Monday (before Thursday, April 3). However, he said, in an interview, that he thought it was more likely sell the rip than buy the dip, he saw more selling likely.
There has been headlines about a 60/40.
Recession odds are between 30% (Goldman) to 60% (JPM) now, according to analysts and banks.
The economy is still solid. So if policies changed again or changed back, the course could be maintained.
Recession destroys a lot of nonfunctioning companies though.
June of 2022 was apparently as heavy losses a week.