THE COURT DOES A FAVOR ON TARIFFS

The court is doing a favor.

Uncertainty hit the markets. Uncertainty hit the business world.

Liberation day crashed the markets.

The crashing markets forced the hand, thus the pause. Thus the many exemptions. Fear took over.

The pause bottomed the markets. Exemptions stopped the bleeding in those areas.

But there was one big matzoh ball left. The crazy 145% tariff on China.

A major change in stance on the China number and markets on the move again. Markets gapped up again. Another higher low.

And then out of nowhere, 50% on the EU. Markets started to buckle. Fear again quickly took over. The 50% gone overnight. Markets gapped up again.

And now a court does a big favor.

If you think this is just about markets, think again. Markets were telegraphing what would happen in and on Main Street if the huge tariffs stood. Pipes were already clogged.

We hear they are happy that they collected $20 billion+ from tariffs in one month. For people who hate tax hikes, this flies in the face because that was a $20 billion+ tax hike on US.

They are now appealing. We have no clue how this ends up. We do know markets will open at another higher low.

Our stance from day 1 has not changed. Huge tariffs were and are a huge mistake. They are a huge tax hike on OUR businesses and potentially OUR consumers. Changing the stance on tariffs many times even worse. Businesses could not plan on anything. We are in hopes we can get to an end game on this. Unfortunately, we do not think this episode is over.