Trump Tariff

President Donald Trump’s proposed tariff on imported steel and aluminum, at 25% and 10%, is much more than a shot across the bow. Indeed, this could be the official kickoff of the trade war we all anticipated
Risk on, risk off. That has been the dominant theme across the markets in recent weeks and at the start of this week traders have switched it back on.
The 1.1% surge in the S&P 500, the 336 points rally in the Dow Jones Industrial Average and the strong bounce in European markets on Monday are hard to justify after President Trump announced plans to slap tariffs on steel and aluminum imports last week
It’s remarkable and somewhat alarming to see how the risk-off sentiment last Friday was swiftly replaced with a risk-on mood today, as fears eased over a looming global trade war.
Warning, what you are about to read is not a political opinion; these are biases interpreted from price action. First, President Trump has "proposed" tariffs, not "imposed". Second, one of the Presidents greatest strengths is bringing different sides to the negotiating table.