Summary

Trump had to reverse his aggressive tariff rhetoric after CEOs from Walmart, Target, and Home Depot warned of empty shelves and higher prices due to supply chain disruptions.

Investors reacted negatively to his threats against Fed Chair Jerome Powell, prompting a market sell-off.

Trump backtracked, expressing optimism on a China trade deal and now denying plans to fire Powell.

Global markets remain volatile, and the IMF cited Trump’s trade war as a “major negative shock” to global growth.

  • Jax@sh.itjust.works
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    2 months ago

    Why would China do anything that helps us pick ourselves up and onto our feet? This is the goal they and Russia have been working towards for decades.

    • slickgoat@lemmy.world
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      2 months ago

      Nah-uh. No blaming China or Russia on this one. The United States did this squarely to themselves with the world pleading otherwise. They inserted their own head in the vice and started spinning the handle.

      Sure, it aligns with the communist block’s benefit, but the US really needs to be held accountable for its own idiocy on this one. Its the first step in recovery.