EVERY-Trade Wars: Bigger, Longer & Uncut

Rabobank

Trade Wars: Bigger, Longer & Uncut

By Michael Every for Rabobank

When President Trump retook office, markets said he wasn’t serious about tariffs. Two weeks later, the White House is singing the 1999 South Park movie song "Blame Canada!" and even "End Canada!", in that it can avoid 25% tariffs by becoming the 51st state – an offer not on the table for China to avoid its additional 10% tariff; nor the EU, who, we were told, are next for the same trade treatment.