Last week, I ended my essay with this note: \u201cI trust that the implementation of the proposed tariffs will take enough time for industries to lobby against them, and inevitably lead to some sort of reversal; the North American strategy on trade is irrational. Trump\u2019s approach to trade is getting murky. In this connection, it is increasingly important for traders to acknowledge that he uses the stock market as his scorecard. Bad performance here is the only thing that will stop his incoherent strategy on trade. In the last hour of trading on Friday, the S&P 500 dropped 0.5%.\u201d<\/p>\n
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