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He folded. Bessent was supposed to go to the RSC lunch to explain the tariff strategy today and shore up support among House Republicans because the tax cuts are in serious jeopardy rn. He canceled 5 minutes before to go meet with the president and it was after that meeting they announced the pause.
I think Bessent explained to Trump that falling equities and rising yields in addition to a potential failure in the House this week to get approval on the budget framework would cause Armageddon. Seems like he prevailed.
But I'm sure Dr. Retard-head-in-his-ass and the rest of the mouth breathers will call this 4d chess or the art of the deal and not realize we were headed for our own Truss moment.
Goalposts moving at lightning speed. Yesterday their talk track was that a recession is necessary as everything was overvalued and we needed a reset to global trade - as if imposing exorbitant trade barriers on enemies and allies alike in less than a week was the best way to go about that. Today it's - wait, nevermind - 4D chess, all according to plan. These clowns rationalize this guy and talk in circles to explain this buffoonery just to be contradicted by his very own actions and words less than a day later. It's astonishing to me how people in this industry prioritize critical thought but absolutely bend the knee to everything this guy does and says - as if they'd get punished for ever disagreeing with one of these haphazard and irrational movements.
Does this mean manufacturing is NOT coming back then? cuz... re-industrialization is kinda 100% predicated on tariff enforcement until the factories are built, equip, staffing trained, and QA/QC passed. Now there is no financial incentive to spend billions of CapEx in domestic US. So MAGAts which is it? Is US re-industrializing or reducing trade deficit through tariff? Because those two things are pretty much mutually exclusive at this point.
I do not think that manufacturing was ever coming back to the US. The new issue is what are US companies going to do about Chinese imports. Do they pay the tariff and raise prices or do they seek to get products from other sources. China exported 439 billion to the US in 2024.
How could it be art of the deal?
Ackman is a fucking cuck. Watching him whine and melt down and then backtrack because he was scared of the backlash from taking shots at Trump/Lutnick was hysterical. “Art of the deal” lmfao
We had tariffs for like 12 hours. In the lead up to them we got an escalating trade war with China and 0 concessions from anyone. And the market plummeted as well. What deal did we get?
I highly doubt Ackman thinks this was anything less than a shit show. He just wants to stay out of Trump’s crosshairs.
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