U.S. President Donald Trump says he’ll hit EU goods with a 50% tariff. A few days later he reverses course. Then a federal court strikes down many of his import taxes, ruling that he didn’t have the power to levy them. And then, just hours later, another court puts that ruling on hold, letting the tariffs continue—for now.
It’s no wonder, then, that whiplashed investors have few ideas about what to expect next. Wall Street is also in the fog. As Deutsche Bank’s global head of macro research, Jim Reid, wrote this morning, “It really is hard to keep up. Trading and analysing this market successfully requires a lot of luck. Unless of course I get it right and then it’s skill.”
