Trump tariffs on $200 billion in Chinese goods will increase from 10 to 25 percent about 8 hours after this post is published and you'll be happy to learn that Trump has no idea what's going to happen.
He says so himself.
Trump spoke to reporters at the White House this afternoon where he said there's a possibility they could reach a deal in the next few hours, but he doesn't know what will happen.
Trump said Thursday that the Chinese wanted to come back to continue negotiations. He added that if it doesn’t work out, the U.S. has an “excellent” alternative. [...]
Trump also said that Chinese President Xi Jinping sent him a “beautiful letter” and he will “probably” speak to him on the phone.
Trump says, “I have no idea what’s going to happen.”
I'd like to think that President Jinping sent Trump a love letter because it has worked on him before. North Korean leader Kim Jong-un has charmed Trump with a series of flattering letters. But it may be too late for this particular love potion to take effect. Things are already in motion and we're just hours away from a dramatic escalation of Trump's trade war.
I have no idea what Trump's "excellent" alternative to free trade with China is, but I'm sure he doesn't either.
The global economy is probably fucked.