Trump goes for shock therapy

Trump goes for shock therapy

The market was far too optimistic

Summers Says Trump Tariffs to Impose Oil-Shock Type Economic Hit

Former Treasury Secretary Lawrence Summers said the Trump administration’s looming tariff hikes are set to impose an oil crisis-like shock to the economy that shrinks its productive capacity — boosting both prices and unemployment.

Trump Tariffs to Impose Oil-Shock Type Economic Hit

“Former Treasury Secretary Lawrence Summers said the Trump administration’s looming tariff hikes are set to impose an oil crisis-like shock to the economy that shrinks its productive capacity — boosting both prices and unemployment,” Bloomberg reports. Said Summers: “This is the kind of thing you discuss in the way we would usually discuss an oil-price spike or earthquake or a drought, as a supply shock. The question is mostly how much damage is…

Things happened on the American markets before 4 p.m. yesterday, but who knows what. The White House tariff announcement was so strong that it erased...

Trump goes for shock therapy – Sky News: The Latest News from the World

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. This article is an on-site version of our Unhedged newsletter. Premium subscribers can sign up here to get the newsletter delivered every weekday. Standard subscribers can upgrade to Premium here, or explore all FT newsletters […]

San Diego business and economic leaders express skepticism over Trump tariffs

The tariffs go into effect Wednesday evening at 9 p.m. on a broad variety of products from many countries.