Quote:
Originally Posted by opendoor
Sure, but they're not even in place yet; this is a reaction to an announcement that had been scheduled for over a month.
In my mind at least, the difference between what he could have reasonably been expected to announce and what he did announce certainly isn't enough to wipe out 11% of the stock market in 2 days. He was always going to announce something stupid.
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Speaking to Goldman and JP Morgan this morning both their ultimate bear models had far lower tariffs than what was actually presented. Not only that, their models did not predict such drastic tariffs on so many countries integral to US consumer products. The fact Taiwan (ignoring the fact that the US actually formally recognized them as a country on that board) was on there and a key strategic partner for the US in terms of national security and military was also a shock. The plan was just not well thought out by all metrics.