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Return of the tariffs
It took about 5 seconds this morning, maybe ten, to register that today's note was basically going to write itself. The home page of my go-to newspaper, the Financial Times, runs with: Trump to hit Brazil and Argentina with metals tariffs. US threatens EU with new tariffs in Airbus-Boeing battle. Beijing retaliated against Trump's signing off of Hong Kong act. US manufacturing contraction worsens in November. And Fed considers letting inflation run above target. The first four are clearly part of the same overarching story - the Trade war. And it's not just the US and China. President Trump is taking the ... (full story)