What’s the ‘Tariff Tug-of-War’ all about? Let’s chat slowly～

1. Old Trump’s ‘Tariff Shuffle’: What’s he really calculating?

These past few days, Trump’s attitude has been more changeable than the weather in April! First, on April 22, he said, ‘Tariffs on China may drop significantly,’ giving the market a ‘reassurance pill.’ But just three days later, he flipped on ‘Air Force One’: ‘China must make substantial concessions, or there’s no talk of tariffs!’