Global Daily: Art of the Deal

Stocks had looked poised for a face-tearing rally today as another Trump pivot on China tariffs over the weekend threatened to blast out shorts. Trump announced that tariffs on computers and electronics would be set at 20% - rather than the full-freight-rate of 145% - placating big tech CEO’s and US consumers. However, late on Sunday President Trump walked back the concession by announcing via Truth Social that electronics are “just moving to a different tariff ‘bucket’” and that the whole electronics supply chain will be subject to “national security tariff investigations”. So, it looks like the reprieve is only temporary.