Analyst: Trump's Weekend Tariff Increase Once Again Tests Market Resilience

July 13th: An analyst pointed out that the financial markets, which are growing more and more insensitive to the U.S. tariff threats, will encounter a test when the market opens on Monday. Previously, over the weekend, Trump announced a 30% tariff on the EU and Mexico starting from August 1st. Trump has recently intensified trade measures, vowing to impose more tariffs on all countries ranging from Canada to Brazil to Algeria and inviting trade partners for further negotiations. Despite warnings from JPMorgan Chase CEO Jamie Dimon and others not to underestimate it, investors' reaction so far appears to be relying on the fact that the U.S. president will back down once again, as they have witnessed his previous 180-degree turn. Brian Jacobsen, the Chief Economist at Annex Wealth Management, stated: "Investors should not simply regard Trump's 30% tariff threat on EU goods as a bluff; this tariff level is punitive, but the harm to the EU may be greater than the impact on the U.S., so time is running out." (Jinse Finance)