Stop making sense of Liberation Day (cont.)

Europe is very pro-tariffs; 'the world is not ending' probably; Canada takes one to the kisser; trade is good

• Europe is very pro-tariffs;

• 'the world is not ending' probably;

• Canada takes one to the kisser;

• trade is good

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Publishing note: posting will be a bit more sporadic over the coming weeks. I’ve got some planning to do, plus some other commitments, but then I’ll be away for Passover. So, there will be posts, but not every day.

Stop Making Sense of Liberation Day (cont.)

I promised sporadic, and sporadic, I will deliver. Just some very quick hitters on the issue de jour.

Breaking up with China is hard to do

Now that Trump has rolled out his China-tariff, the EU is taking a break from being very mad about tariffs, to further open up trade to China and its ASEAN prox—

Wait no.

Europe is apparently very mad about all the Chinese goods that are about to come its way:

FT

“Oh no, America isn’t going to soak up all those cheap goods from China, so how will we, Europe, protect our domestic manufacturers?!”

Extraordinary.

We’ve gone from “tariffs are insane” to “China is dumping, we need tariffs” in a blink of an eye.

Well, actually, “China is dumping” was a theme from last year (which Random Walk observed then made for odd juxtaposition with America’s “just right” subsidies), so really we’ve gone from “China is dumping—we must do something” to “doing something is a complete abandonment of free trade” and back to “we must do something” in a blink of an eye.

‘The world is not coming to an end”