Sunday, February 9, 2025
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Here’s where I’d look to buy as Wall Street slides on Trump’s tariff orders

We knew President Donald Trump was going to slap Mexico, Canada and China with tariffs. We knew that the Elon Musk meant business with finding waste in government. Did we think it was all a joke? The sellers of the futures Sunday night — and, no doubt, the bailers in Monday’s regular session — must have thought it was one big meant-to-be-broken set of campaign promises. As someone who always took Trump seriously, let me tell you how I sort this all out. First, I am shocked at one portion of this troika of tariffs: I thought China might be hit with not a 10% tariff, or even a 60% tariff, which had been kicked around, but a shutdown where Trump wouldn’t bother to implement higher tariff goods entering the U.S. from China at all. I feared that Trump would decide that if Chinese AI startup DeepSeek existing circumvented U.S. export controls to obtain access to Nvidia’s highest-end AI chips, it didn’t matter if we threw tariffs on them at all. Instead, let’s just cut off all tech to China and see how they did. Considering that alternative, a 10% tariff is a tiny tariff. The Chinese got off very easy in this initial batch of duties, which go into effect Tuesday. Believe me, if Peter Navarro, a trade adviser to Trump who was also involved in Trump’s first presidential go-round, had gotten his way, it wouldn’t have gone down like this. It would have been a much higher tariff and a possible cutoff threat. Now, instead, it is almost as if the president is trying to say,

web-interns@dakdan.com

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