Good news! I bring you good tidings and great cheer. You can retire again. Don’t ask me about tomorrow. Tomorrow never comes.
About an hour ago, the Trump administration announced a couple developments on the tariff front. First, in response to China going all-in on reciprocity, The United States will now impose a 125% tariff on all Chinese imports effective at Midnight tonight.
In addition, to all of the countries now clamoring to renegotiate trade deals with the U.S., all of the rest of the reciprocal tariffs have been paused for 90 days. The only thing that remains in place is a flat 10% minimum tariff. I’ll get to that in a bit.
Literally within minutes, the latest, greatest example of why one should never sell into a panic took place. The markets skyrocketed. As of this writing, the Dow is back over 40,000, up at least 2,500 on the day. Nasdaq and every other index…
