"Krone" commentary
Tariffs: A shot in the foot
Right from the start of his second term in office, US President Trump acted with complete abandon: He bumped into everyone he wanted something from.
Greenland? Give it to me! The Panama Canal? It's already been bought! Canada? Why not? And if you're not willing, I need force: a powerful customs barrier will make the recalcitrant weak-kneed.
It's interesting that this spectacular Trump effect didn't last long: When he became too unpredictable - 25 percent tariffs for Canada in the morning, 50 percent a few hours later and a return to the 25 percent immediately afterwards. Trump's motto is: How am I supposed to know what I think before I hear what I say ...
Wall Street put the first damper on him: a cold price shower - and the "dealmaker" woke up from his daydreams. His economic expertise is limited: After all, the global economy has increased prosperity by ensuring free markets. Where everyone offers what they can do better. Tariffs are a hindrance. They are supposed to protect - but who? The USA from little Austria? Ridiculous! The EU quickly found an answer. And experts have quickly calculated that Trump & Co are shooting themselves in the foot with the high tariff hurdles.
Inflation will rise, recession is already knocking on the door. Wall Street has shown Trump: You can't go through the wall with your head in the long term! Not even for Trump.
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