
The Kobeissi Letter|May 12, 2025 02:57
The entire US-China trade deal "pre-announcement" situation has been interesting:
Friday began with President Trump saying that 80% tariffs on China "seems right."
China responded by saying they "firmly oppose" US abuse of reciprocal tariffs.
All of a sudden, a US-China trade deal was announced on the White House website on Sunday, without any further comment from Trump.
2 hours later, President Trump posted that his "most important and impactful" Truth statement of all time is coming.
This statement ended up being entirely unrelated to tariffs.
We have yet to receive a statement from Trump directly on the US-China trade deal.
This explains why markets are only up ~1.3% on this otherwise massively bullish news.
Uncertainty is still everywhere.
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