Two ideas about today’s tariff. I can enter the decision article. But I think this is going on.
The first point is that we should remember that presidents have no power to define at all. This is not like the powers of war or amnesty, where these questions that the constitution appointed to the will of one person. It is fully delegated by Congress and can return at any moment. It is also explicitly intended for emergency situations. It is not intended to use it to create completely new business systems. But Congress allows the president to decide what is the state of emergency. The logic of this delegation depends on the flexibility and comfort created by the delegation and the assumption that the president will not be steadfast. Republican Congress can bring this ridiculous maneuver to the tonight. So everything on them, each of them individually.
The second point is what happened today in stock markets. In a more or less immediate response to Trump’s 4 pm, they decreased dramatically. On the first cheeks this is logical. These definitions are at best a great shock to the economy. In the worst case, well … in the worst case, it is much worse. But this is really very strange. Trump was not shy. These definitions have been raised weeks ago with increased certainty and privacy in recent days. While the precise details were somewhat in the air, Trump announced in the exact outline what he says he would announce for several days. This indicates that stock markets are still in the grip of a lot of magic thinking, especially about Donald Trump.
I am not far from one of the parties: the markets have escalated up after the second Trump elections and were more declining or less than the moment when he had started what everyone should have known, and what he would do over and over again He said He will do. Intensive magic thinking is the only figure you can connect in this equation and make the sides equal.
One may speculate that merchants believe that the economy is more flexible than people expect. So you may not worry the definitions. But this is clearly no What they think about. Since future contracts have decreased in the Trump advertisement. There was some somewhat strong belief, but it could not be truly explained that there is a rabbit hiding in the hat. Of course, I am not a person who believes the markets have a perfect or consistent rational, at least not in the short term. So this is not a great shock to me. But the markets have periods of magic thinking to some extent. Currently, we seem to be strongly in the direction.