It’s Memorial Day Weekend, when many Americans will hit the beach—at least those who got away early will, before the storms hit.
The markets, too, are going through a “just when you thought it was safe to go back in the water” moment. And the big storm–or shark– that’s looming is named Donald J. Trump.
Earlier this week, markets rallied when it looked like the U.S. and China had agreed to a partial trade agreement that didn’t include heavy tariffs or specific dollar reductions in the trade deficit.
But just as soon as the media lambasted the president about that, he pivoted to a harder-line stance, telling the Commerce Department to determine whether imports of automobiles and auto parts constituted a threat to “national security.” Yes, you read that right.
On Thursday, he pulled out of the proposed summit with North Korea, telling its president. Kim Jong un, that they had had a “wonderful dialog” and he was “very much looking forward to being there with you.” But, unfortunately, Trump was just not into him.