Trump Ratchets Up Trade War — China Threatens to Retaliate, “The Fly” Wins Again

Any questions?

China said on Wednesday that “blackmail” wouldn’t work and that it would hit back if the United States takes further steps hindering trade, as the Trump administration considers slapping a 25 percent tariff on $200 billion worth of Chinese goods.

The proposal would increase the potential tariff rate from 10 percent the administration had initially put forward on July 10 for that wave of duties in a bid to pressure Beijing into making trade concessions, a source familiar with the plan said on Tuesday.

The tariffs target thousands of Chinese imports, including food products, chemicals, steel and aluminum and consumer goods ranging from dog food, furniture and carpets to car tires, bicycles, and baseball gloves and beauty products.

While the duties would not be imposed until after a period of public comment, raising the proposed level to 25 percent would escalate the already bitter trade dispute between the world’s two biggest economies.

The math is simple here. Trump is creating drama from which he can become queen. He takes said crisis and then solves it — hence making him an American hero. This is retard level diplomacy — but is the essence of “the art of the deal.”

Meanwhile back on earth, Le Fly scored a win to offset a series of unfortunate events in ZEN. I have no reason to be cocky over a singular victory — but I’ll probably do it anyway — because why the hell not?

I have an uneasy feeling about Apple racing towards $1 trillion market cap, people somewhat ebullient about the market bouncing, and the news flow — which is dreadful.

Cash levels are still ~50% and I’ll be reshuffling the chairs on the decks of my Quant portfolio today — switching over to mega-caps. Remember to tell all of your friends and family, even retarded cousins, about FreeStockAlgos.com.

See you inside Exodus.