President Trump continues to wear the tag of the most influential inhabitant there has ever been in the White House. Doling out his wisdoms and unique take on diplomatic negotiation, markets were forced to ignore such lofty data last week in the form of European GDP, US CPI, PPI and Retail Sales and Jerome Powell’s two-day testimony on Capitol Hill.
The US President can be accused of many things; inertia is not one of them. The tariff merry-go-round keeps spinning and not even God knows when it will stop. In his latest salvo, he promised to introduce reciprocal tariffs on every country, which disincentivises US imports.
It may not have been on day one of his Presidency, and it may not be an immediate end, but Donald Trump waded into the Ukraine war yesterday. Conducting back-to-back phone calls with Presidents Putin and Zelensky and portraying the usual ‘art of the deal’ panache, he victoriously claimed the Putin has even used his campaign motto ‘common sense’ and that a meeting would soon take place in Saudi Arabia between the US an Russia.
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