The USA just tried to bully the world and the world said nah mate.
Even after major tariff reversal, the 10 year is 60 basis points higher while they have alienated all their allies. It's a disaster for the USA.
The Trump administration could have just threatened tariffs and given time to negotiate more favourable deals if they actually thought trade practices were unfair. But what they've done is slap blanket 10% tariffs on the countries they even have slight trade surpluses with, like the UK, so the only logical conclusion is that they think general, non-specific tariffs are objectively a good thing.
Feels like a Suez crisis moment for the US where there is a global realisation that the USA are not the biggest superpower in the world by far like they were from the period leading up to the fall of the soviet union until the present day.
lol
Worst case is we go to what it was not that along and nothing happens.
Realistic case is we get at least some corporate investments within the US while supply chains continue to move away from our geopolitical enemy. We also forcefully extract concessions from partner that before would have zero incentive to give.
The world isn’t going to give up 34% of the global consumption market because their feelings are hurt. And if they do they’d be retarded for it.