China May Have Miscalculated Trump's Weak Spot - Bloomberg
Why is Trump behaving this way? Because higher tariffs offer him the chance to square this circle. By raising tariffs he puts pressure on China to stimulate its economy. That, in turn, will tend to lead to a recovery in U.S. share prices....In the last week, the chance of a Fed rate cut by the end of the year has shifted from 50 percent to more than 75 percent, according to data compiled by Bloomberg:
...Added to that, Trump’s actions to push up the Dow are also great politics when judged more conventionally. Getting tough with China involves doing exactly what he said he would do, which is always popular with the electorate. It is a posture that is also popular with many Democrats, and the party is already having difficulty knowing how to respond.
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