Trump has now shown his hand. Even with the tariffs on China remaining, it’s clear that Trump will back down on any extreme positions he takes. So, expect the china tariffs to be backed off soon too (once he gets some concession that he can brandish as a win).

In 3 months, sell your positions, let him play his stupid games and re-buy once he backs down, because he will. Or just hold and ride it out.

10% sounds like where we’ll default to in the long-term because that was the ‘base rate’ for everybody anyway. He just wants to rattle his sabre, especially with China.

It’s quite pathetic, really, but weirdly I feel slightly more calm about the situation now that I realise he hasn’t got the bottle to follow through.