Trump throws yet another tantrum and threatens tariffs that his genius supporters believe would be paid by the countries subjected to the tariffs. Stocks free fall again like they did in April 2025, but back then the Trump admin did try damage control and paused or rolled back measures and reached deals with several partners.
However, it looks quite different this time. Trump has a very specific demand that the EU is entirely unwilling to budge on, and moreover, he is much less grounded than he was last year. It seems extremely likely that he'll stick to the tariffs he threatened. We have to be in for a long winter.