The Trump giveth and the Trump taketh. The tweeter in chief gave a rather bellicose speech on trade and such yesterday, sending shivers down investors’ spines. Well, almost. Trump’s language could reveal yet another shift – this time from dovish to hawkish. That, or he’s simply posturing as ‘phase 1’ trade talks near the end and trying to extract some (more) final concessions from Beijing before striking a deal. Trump said that China is “dying” to cut a deal because of domestic economic problems and that he would raise tariffs “substantially” if there’s no deal. The President also resumed his hounding of the Fed, saying that Powell & Co were too slow in easing policy.


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