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Your guide to what Trumpet’s Second Terms mean for Washington, Business and World
Good morning. Tesla stocks dropped almost 7 percent yesterday after Elon Musk announced the weekend he began a new US political party. Carmaker investors show, clearly they are tired of political political politics. Musk is either ignoring or not just being able to stop. Email theories of psychological US: The unknown@ft.com.
Ninety deals at 90, no wait, 113 days, and we’re serious this time
Deadline, never surprise, no deadline. Countries are intended to negotiate a trading agreement with US by tomorrow, or deal with reciprocity TARIFF On a level detailed with that famous Poster Board Back back in April. Now the big day is moved to August first. Or may: Treasury Secretary Scott Belt, whose primary job has been the policy statements, often discussed first in September. Like the president himself, administrative deadlines should be taken seriously but not literally. “Seriously” because if Trump should decide to implement a deadline, the effect becomes seismic. “Not literally” because he might not.
What is the next three and a half weeks (and maybe more) we have been in today, when the president has been in the first time in the US after 7 percent of ours.
But the market, instead of controlling, gives equal to a distressed shrug. The S & P 500, is in a reduced pattern when the announcement was hit, fell to another fifth of a percentage. The dollar is strengthened 0.7 percent against Korean win and a percentage against yen. In Tokyo and Seoul, the equities opened with a koreswing increase: Korea Kosphi over 1.4 percent in the first two-hour indexing of a more prevention of 0.4 percent. Moderate movement is absolutely reasonable. For one, new rates will not increase the effective tariff rate in any country so many. Paul Ashworth in the capital economy is explained by a notes to clients the new rates
Do not apply to items subject to Trump Tariffs, with autos accounting for 34 percent of imports with a year threatened to import with more than 50 percent. Adding exemps electronics and pharmacists and. . . If Trump followed his threat, the total effective tariff rate at us is importing from 15.5 percent to 16.6 percent.
And why are the market panic about any administration statement at this point? Even the agreements that have become broadly open to further negotiation. Like Liz Ann placed it by Charles Schwab with us, for many, they “frameworks, not sales deals”. History trading deals have taken 18 months to sign bilaterally, and another 40 to 45 months to carry out, he is referred to. The Unique Earth Export of China’s “Deal” is just a de-escalation – Trump administration does not release any Details of the US companies, according to Wall Street Journal.
China’s negotiations are accepted a special case. UK and Vietnam deals can tell us more about what other other countries can be expected. But, again, the US-UK agreement only one framework. It lowers the levies of cargo cargo and expel aerospace products from tariffs, replacement of large meat, ethanol and industrial and industrial. Our work partner Alan Beattie it’s tossing As follows:
Political, you will find out why a small open economy with military dependents and security of a small nonbinding agree, and sell some of the beef quotas and political carcs.
However, there is an agreement signal. The US has excess trade in the UK last year, and yet Agreement does not get 10 percent universal tariff. So other countries should expect the floor not to go below 10 percent.
Vietnam’s new deal is the closest thing we need in a “correct” 20 percent of Vietnsies exports, and trantshiped goods, meant by trantshipped goods, trantshipped goods, meant by trantshipped Goods, intended by Trantshiped Goods, directed at Trantshiped Goods, the Caveat is that Vietnam’s economy is very different from Hatal Korea and Japan. Fewer and poorer, and imported only $ 13bn to US items last year. In contrast, South Korea and Japan are more rich and considered to be more extensive about US exports; The value for each country is more than five times in Vietnam. That, and the important US military alliance in each country, provides these countries a more powerful negotiation position.
Tariff game, briefly, is still – yet – in its primeliniaries. It began honestly if agreements were made by many trading partners that the market believed to continue; The market responds to agreements; And the President responds to market response. This thesis has been a long time with this newsletter to return to Trump from any tariffs that arouse a maintained negative response from markets. When markets are convinced that a given agreement is set to force the issue with him. We stayed away from there.
US stock markets as bond markets as lets approach moderate tariffs – 10 percent of all trading colleagues – no matter the growth of China or take the better of economic growth – don’t matter if they do. And they just rejected continuous threats to worse tariffs. Well, the big question is when investors place themselves for a great disappointment when Trump – pushed by indifference to markets and suddenly showing the decision.
Charles Schwab concrete is amazing if in addition to Trump Pale (also known as Taco Trade) can also be a “Trump Tall”:
To make the market as well since April 9, with economic data and inflation data that may not have shown the full effect of tariffs, but not lend any degree. . . Is that set-up for administrative readiness to keep going things from a vision of tariffs?
We think it’s worth worrying about.
A good reading
A “cheap button” for Russia to proceed.
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