Trump has egg on his face
Well, the Great Negotiator has egg all over his face. President Trump gave China something for nothing when he delayed his announced tariffs…and China paid him back by shoving it right up his butt. Instead of announcing the purchase of buying more agricultural products, China has stated that they have “no choice but to take necessary measures to retaliate” against any new tariffs from the U.S. (even if some/many of them are delayed). Of course, the President has decided to blame the Fed for everything, but that excuse is beginning to run thin.
Yes, China's trade policies need to change
Don’t get us wrong, we do believe that the President’s general policy towards China is the correct one. Something does need to be done about China’s cheating on trade. We can argue about which strategy would be the correct one to change China’s actions, but that’s a moot point right now…because the President chose the “tariff route” a long time ago. That’s what we have whether we like it or not. However, the President can’t have it both ways. He wants to impose tariffs that will hurt the global economy…and yet he also wants the stock market to rally. It doesn’t compute.
The "timing" of Trump's fiscal policies are hurting him
The President is the one who deserves a lot of the blame for the recent decline/slow-down (decline in the markets/slow-down in the economy). He is the one who decided to “front-end” his fiscal policy plans. So instead of having his fiscal stimulus kicking-in during the third & fourth year of his first administration (like every other president of our life-time has done), it kicked-in during the first two years…and the Administration is now caught with its pants ...