The global markets reacted negatively to President Trump's recently imposed tariffs, signaling potential consequences for international trade. Analyst Dan Ives highlighted the nonsensical nature of the tariff calculations, describing them as laughable and devoid of credibility. He expressed concern about the chaotic environment these tariffs have created, suggesting that they could lead to a recession. The article reflects on the confusion in negotiations, as many industry executives share the sentiment that the current figures could not be taken seriously, further complicating trade talks and economic prospects.
"If a ninth-grader in high school presented this tariff chart to a teacher in a basic economics class, the teacher would laugh and say, 'Sit down and work on the assignment.'"
"The calculations on tariffs are befuddling, insane, and absurd. It just takes away credibility on day one on what the actual numbers are."
"How do negotiations start when you're going off of a number that makes no sense, at least on earth?"
"It's created such chaos and the numbers are so absurd that you have to assume it's just a negotiation point. Otherwise, it's an economic Armageddon, and it guarantees a recession."
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