Tariff Tango

The weekend brought more tariff whiplash.

Friday, markets closed out a historically wild week on a high note. The S&P 500 and Nasdaq climbed, and the Dow jumped 619 points following news that President Trump was “optimistic” about a trade deal with China. 

China, apparently, didn’t get the memo. On Saturday, it hiked its retaliatory tariffs on U.S. goods from 84% to 125% while noting it was done with tit-for-tat raises, calling anything above 125% a “joke.” Sunday, China’s commerce ministry called on the U.S. to “correct its mistakes” and “return to the right path of mutual respect.”

Meanwhile, Trump announced tariff exemptions for smartphones, computers, and other tech components (think: hard drives, semiconductors, memory chips). Big Tech exhaled a sigh of relief… which was cut short when officials suggested the reprieve would be short-lived.

Verse to consider whether you’re negotiating with a foreign leader, a difficult coworker, or an overly tired toddler… “Seek peace and pursue it. The eyes of the Lord are on the righteous, and his ears are open to their cry for help.”
Psalm 34:14–15 (CSB) (read full passage)