Olivia Troy - Markets Are Tumbling. Tariffs Are Rising. China Retaliates.

There’s a difference between forecasting a storm and standing in the middle of one—and according to Larry Fink, we’re already getting drenched.

I was in the room at the Economic Club of New York’s event held at the Union League Club earlier this week when Fink, BlackRock’s longtime CEO, delivered a sobering, unscripted take on where the economy really stands. Not the kind of scripted corporate optimism we’re used to, but something rawer. Blunter. And far more unsettling.

As we gathered that morning, chaos was already unfolding. Just hours earlier, President Trump had threatened sweeping new tariffs on Chinese imports–a 50% levy unless Beijing reversed its retaliatory tariffs–sending shockwaves throughout global markets and prompting a sharp sell-off after a brief morning rally. You’ll be shocked to hear that China thus far isn’t budging and the Trump tariffs have gone into effect.

The situation has only escalated since. Just this morning, Beijing hit back hard: China escalated the trade war by slapping 84% tariffs on all U.S. imports, effective immediately. Furthermore, they filed a new complaint against the United States at the World Trade Organization (WTO), challenging the legality of the U.S. tariff actions. The moves are a direct response to Trump’s decision to raise tariffs on Chinese goods to a staggering 104%.

https://www.livingitwitholiviatroye.com/p/markets-are-tumbling-tariffs-are