For as finely balanced as the world economic situation is at present, the political environment could hardly be more disruptive. President Donald Trump decided that with US stocks in early May near all time highs (US equity markets were up 13% this year alone to May 29th), US unemployment declining, wages increasing and consumer confidence rising, now was the time to announce the US could double tariffs against China, and would implement a succession of monthly tariff measures against Mexico if its closest neighbour fails to stop massive emigration to the US.

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