A bad, bad week for global trade tensions
Enter, Mexico. After the Trump administration placed its cross-hairs firmly on China's crown-jewel, Huawei, China raised the possibility of weaponizing its dominance in rare earth materials - used in smartphones, military equipment, driverless cars, etc., to hit back against the US. Hapless Mexico was then dragged into the picture, with the Trump administration announcing plans to impose 5% on Mexican exports, with the potential to rise to 25% by October.
All within a week.
Markets now pricing in collapse in Fed rate hike probabilities
This year saw