Trade tariff policies continue to drive uncertainty in financial markets. Stocks, bonds, and the dollar itself move to the daily words of Team Trump.
Are extreme tariff policies one of President Trump’s ‘art of the deal’ tactics? Or is the ground shifting beneath the feet of the global economy and financial markets?
This week, to the stock market’s delight, was all about damage control. Treasury Secretary Scott Bessent, while delivering remarks at the Institute of International Finance Global Outlook Forum, clarified that “America First does not mean America Alone.” This came a day after Bessent stated that the ongoing tariff showdown against China is “unsustainable” and that he expects a “de-escalation” in the trade war.
When you play with fire, you’re gonna get burned. In this regard, the initial damage has already been done. But, of course, there’s always more to come.
According to Port Optimizer, scheduled import volumes for the Port of Los Angeles for the week ending May 3 show a 28.53 percent week-over-week decline. What’s more, for the week ending May 10, scheduled import volumes are projected to be down 34.54 percent year-over-year. Continue reading