I believe this is what the psychiatrists refer to as ‘projection’.
- US consumers may have to pay more to cover costs of tariffs
(ps there is no may about it)
- Does not think China would retaliate for an increase in tariffs
- thinks trade war with China will be fairly short
- he understands September meeting between US and China negotiators is still on
- Powell should be cutting rates, other countries are cutting and we should stay even
Oh, if you are down this far …. here are some Asia rumours beginning to do the rounds:
- China has frozen mainland assets of Hong Kong citizens
- Yang Jiechi delivered letter to Trump – with news that China is to to fully take over Hong Kong…. in return China to sign 153 pages of previous agreement on trade deal and buys 10-30 bln $ farm products
Juicy rumours but that’s all they are. Make up your own mind. I can’t see China caving in and signing the previous agreement FWIW. And, if China want to snaffle up HK they’ll do so regardless.