Trump’s Tariffs Are Back — And Crazier Than Ever
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Welcome to Profty Markets. I'm Ed Elson. It is July 22. Let's check-in on yesterday's market vitals. The major indices climbed as chip stocks rallied. Intel popped nearly nine percent after the company announced it is reducing its headcount. Meanwhile, Brent crude climbed as strikes continued in The Middle East, president Trump dismissed the idea of immediate talks with Iran. The yield on ten year treasuries rose to its highest level in two months on inflation expectations. On Kashi, the odds of a rate hike before 2027 hit 62%. Okay. What else is happening? Just when you thought it was over, t
Yeah. Well, I think part of why we stopped talking about it was we all hoped that maybe, although Trump would maintain high tariffs, he'd do so in a more orderly and disciplined fashion than he did last year. And as we're seeing this week, that's not really the case. You know, if you go back to February, Trump lost a case at the Supreme Court, where the Supreme Court ruled that the legal basis he'd been using for many of his tariffs last year was illegal. And the Trump administration pivoted back in February to kind of a phased set of fallback, tariff plans with the idea being first, they'd ha
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