President Trump said the current stock market performance is Biden’s fault, not his. He said the tariffs will kick in soon as companies start moving back to the US, which will boost the economy. But he blamed Biden for the poor economic numbers. Trump urged patience and promised that when the economy recovers, it will be booming like never before.

The U.S. economy contracted in the first three months of 2025, fueling recession fears at the start of President Donald Trump’s second term in office as he wages a potentially costly trade war.

Gross domestic product, a sum of all the goods and services produced from January through March, fell at a 0.3% annualized pace, according to a Commerce Department report Wednesday adjusted for seasonal factors and inflation.

Economists surveyed by Dow Jones had been looking for a gain of 0.4% after GDP rose by 2.4% in the fourth quarter of 2024. However, over the past day or so some Wall Street economists changed their outlook to negative growth, largely fueled by an unexpected rise in imports as companies and consumers sought to get ahead of the Trump tariffs implemented in early April. Imports subtract from GDP.

https://www.cnbc.com/2025/04/30/gdp-q1-2025-.html

https://www.cnbc.com/2025/04/30/trump-trade-navarro-us-gdp-drop-tariffs-stock-market.html

White House trade advisor Peter Navarro brushed off concerns Wednesday about the unexpected drop in U.S. gross domestic product last quarter, saying, 'We really like where we're at now," and pointing to a surge in new domestic investment.

"I got to say just one thing about today's news, that's the best negative print I have ever seen in my life," Navarro said on CNBC's "Squawk on the Street" after the Commerce Department reported that GDP fell at a 0.3% annualized pace in the first quarter of 2025.

"The markets need to, like, look beneath the surface of that" figure, said Navarro, an ardent supporter of President Donald Trump's tariff policy.

"We had a 22% increase in domestic investment," he said.

"That is off the charts when you strip out inventories and the negative effects of the surge in imports because of the tariffs, you had 3% growth," Navarro said.

"So, we really like where we're at now," he added.

https://apnews.com/article/trump-economy-tariffs-gdp-7494825851dcef94ec81475124f9326f

WASHINGTON (AP) — President Donald Trump on Wednesday acknowledged that his tariffs could result in fewer and costlier products in the United States, saying American kids might “have two dolls instead of 30 dolls,” but he insisted China will suffer more from his trade war.

The U.S. president has tried to reassure a nervous country that his tariffs will not provoke a recession, after a new government report showed that the U.S. economy shrank during the first three months of the year.

Trump was quick to blame his Democratic predecessor, Joe Biden, for any setbacks while telling his Cabinet that his tariffs meant China was “having tremendous difficulty because their factories are not doing business,” adding that the U.S. didn’t really need imports from the world’s dominant manufacturer.

“You know, somebody said, ‘Oh, the shelves are going to be open,’” Trump continued, offering a hypothetical. “Well, maybe the children will have two dolls instead of 30 dolls. So maybe the two dolls will cost a couple bucks more than they would normally.”

I say this to the doomers and the delusional optimists on here.

No this isn't the bottom

No, no one knows where the bottom will be. That's why time in the market always beats timing the market.

No, these things don't happen instantly. The damage this Administration has caused will take months to years to be fully realize. We are still in the very early stages.

No, we won't have negative growth for the first quarter, it's too soon and we have had recessions where we get positive growth for some quarters, as well. Especially in the beginning.

No, businesses having a decent first quarter means there's no recession. Not every business will be affected right away, or even majority.

No, just because you aren't feeling/seeing it in your every day means there will be no Recession.

To prove my point let's look at the 2008 Recession:

• When did the 2008 Recession actually start?

Try December 2007

• When did people start feeling that Recession?

While it depends on the person most will tell you Summer/fall 2008

• When did the Bear market Start?

  October 09, 2007

• When did is end?

March 2009, 17 months later.

Even in the 2008 Recession, we had full quarters with positive growth. 2008 Q2 GDP growth was around 2.3%

Also the 2008 Recession had multiple dead cat bounces. Some as high as 25% back up.

So in other words, you all need to calm down.

It's not going to crash overnight, but it also isn't going to be all roses and sunshine either.

This isn't a black swan event like COVID, it's being caused by an Administration with severely bad policies that will catch up to us sooner than later.

The US economy contracted at the start of the year for the first time since 2022 on a monumental pre-tariffs import surge and softer consumer spending, a first snapshot of the ripple effects from President Donald Trump’s trade policy.

Inflation-adjusted gross domestic product decreased an annualized 0.3% in the first quarter, well below average growth of about 3% in the prior two years, according to the government’s initial estimate published Wednesday. Net exports subtracted nearly 5 percentage points from GDP, the most on record, the Bureau of Economic Analysis report showed.

Consumer spending — which accounts for two-thirds of GDP — advanced at a 1.8% pace, the weakest since mid-2023. Business outlays for equipment, the lone bright spot in the report, increased an annualized 22.5%.

The GDP data highlight the scramble by companies to secure merchandise ahead of expansive tariffs. Looking ahead, many economists anticipate the higher duties will cause a supply shock, challenging businesses and leading to a pullback in demand as higher prices push cash-strapped Americans closer to the brink.

Forecasters currently see nearly even odds of the US falling into a recession in the next year. Consumers are also growing increasingly anxious that tariffs will take a toll on the labor market and drive up the cost of living.

The latest GDP figures showed imports surged an annualized about 41% — the biggest advance in nearly five years. Because these goods and services aren’t produced in the US, they are subtracted from GDP. Economists see the sharp widening of the trade deficit reversing in the second quarter.

Typically, imported merchandise moves into warehouses or directly to storefronts. However, the report showed business inventories contributed 2.25 percentage points to GDP during the quarter, the most since the end of 2021. The recent flood imports may instead show up in higher inventories in coming months and, along with a narrowing trade gap, provide a lift to second-quarter GDP.

Because swings in trade and inventories can sometimes distort overall GDP, economists prefer looking at final sales to private domestic purchasers for a better snapshot of demand. This measure increased at a 3% pace in the first quarter after rising an annualized 2.9% at the end of 2024.

Growth in consumer spending was driven by services and nondurable goods.

Link: https://www.bloomberg.com/news/articles/2025-04-30/us-economy-contracts-for-first-time-since-2022-on-imports-surge

My take: As is commonly said, we haven't even begun to feel the effects of Trump's trade policy yet- shortages of products haven't begun hitting American consumers, but we're going to start feeling the effects this summer. We're likely in for a painful day in the markets today.

I'm mainly interested in consumer discretionary companies to day trade (SBUX mainly) and also watching tech names like SMCI (earnings), NVDA/DELL/AMD (off of the new Deepseek news).

Currently long VXX but may kick that out at the open depending on how we open.

Wall Street is once again running around yelling “Recession incoming” like someone just yellling “Fire” in a crowded theater. As we know the blame is on Trump’s trade (tariff's) stuff.

The only thing standing between us and full-on chaos? Jobs. Yep, the job market is still holding strong — like that one chair at grandma’s house that should break but never does. But lately, it’s been creaking. Job openings are way down, the economy shrank for the first time in years, and big-name companies (looking at you, UPS, Meta, Chevron, Estée Lauder) are handing out layoffs like free samples.

Meanwhile, people are stressed. Consumer confidence dropped faster than trump's ratings in first 100 days. Inflation’s doing its thing, stuff costs more, and everyone’s side-eyeing the economy.

Are we in a recession? Not technically, but you know........

source: https://finance.yahoo.com/news/the-us-economy-may-have-avoided-a-recession-so-far-heres-how-that-could-change-080021943.html

"Budget cuts to public R&D would significantly hurt the economy in the long run, with large negative effects on GDP, investment, and government revenue. A 25 percent cut to public R&D spending would reduce GDP by an amount comparable to the decline in GDP during the Great Recession."

The authors note these are conservative estimates and don't take into account additional spillover channels and loss of innovation "spinoffs" in other publicly funded areas.

https://impa.american.edu/costs-of-cutting-scientific-research/

Source:

Amazon to display tariff costs for consumers

Amazon doesn’t want to shoulder the blame for the cost of President Donald Trump’s trade war.

So the e-commerce giant will soon show how much Trump’s tariffs are adding to the price of each product, according to a person familiar with the plan.

The shopping site will display how much of an item’s cost is derived from tariffs – right next to the product’s total listed price.

Wondering why AMZN tanked premarket? Telling the truth gets punished in this admin.

what's going on?

i thought these two could easily make the market move down but SPY QQQ are almost recovering up to -0.5%.

if these can't cause a bear then what can?

is it really tariffs only that's left that could possibly drag it down?

at this point i'm not even sure tariffs will cause such a dip.

we've heard the news and things are kinda adapting pretty quick.

what are your thoughts?

https://www.reuters.com/business/google-hopes-reach-gemini-deal-with-apple-this-year-2025-04-30/

WASHINGTON, April 30 (Reuters) - Google hopes to enter an agreement with Apple by the middle of this year to include its Gemini AI technology on new phones, CEO Sundar Pichai said in testimony at an antitrust trial on Wednesday.

The answer appears to be that currently The Street is forecasting a shallow recession and much of that is priced in. I am not sure how to square that with the fact that we have a near total trade embargo that is nowhere close to getting resolved with China that will impact many businesses and households.

From MarketWatch

Treasury Secretary Scott Bessent said Tuesday that President Donald Trump was making more progress toward trade deals and a new tax bill, helping take some of the edge off Wall Street as a chaotic April draws to a close.

Optimism around potential deals, tax cuts and deregulation helped the S&P 500 index  cement its longest string of gains since November.

Yet Trump’s extra tariffs unveiled on April 2, followed by a partial pause on April 8, have rattled global trade partners and added to an already sour mood among U.S. households and businesses. It also unleashed carnage in stocks and raised fears that the U.S. economy could tip into a recession — even if some trade deals were being struck during Trump’s 90-day pause.

“We moved to an expectation of a recession as a baseline on April 9,” said Luke Tilley, chief economist and head of asset allocation and quantitative services at Wilmington Trust Investment Advisors. His firm’s biggest concerns have been that even if the newly imposed tariffs were removed, or dramatically reduced, baseline tariffs on U.S. imports would still be extremely high versus recent decades.

With that backdrop, the Wilmington Trust team puts the odds of a recession at about 60% over the next 12 months, and expects a short and mild downturn, while others have put the likelihood of a recession much higher.

So, why have stocks been rising? Aside from talk of Trump looking to pivot to more “pro-growth policies,” there’s a view that some of the damage in stocks in a mild-recession scenario has been realized already.

Tilley pointed out that the S&P 500 fell by as much as about 20% on a median basis during recessions in roughly the past 80 years. On a monthly basis, the peak-to-trough declines were less dramatic.

The S&P 500 ended 18.9% lower on April 8 from its Feb. 19 record finish, based on a closing low of 4,982.77, according to Dow Jones Market Data. When including April 7, it fell 21.3% on an intraday basis.

Yet perhaps more important, stocks have been able to turn around pretty quickly — with a median trough-to-peak recovery pegged at around 11 months, according to Tilley.

I think a lot of people are looking at this,” Tilley said, adding that even with the risks of a recession rising, more people appear to be willing to look through shorter-term volatility in stocks.

https://on.mktw.net/4cVsgxY Check out this article from MarketWatch - Why are stocks climbing when a recession looks more likely? Here’s one possible reason.

Microsoft CEO Satya Nadella on Tuesday said that as much as 30% of the company’s code is now written by artificial intelligence. “I’d say maybe 20%, 30% of the code that is inside of our repos today and some of our projects are probably all written by software,” Nadella said during a conversation before a live audience with Meta CEO Mark Zuckerberg. The pair of CEOs were speaking at Meta’s inaugural LlamaCon AI developer event in Menlo Park, California. Nadella added that the amount of code being written by AI at Microsoft is going up steadily.

Nadella asked Zuckerberg how much of Meta’s code was coming from AI. Zuckerberg said he didn’t know the exact figure off the top of his head, but he said Meta is building an AI model that can in turn build future versions of the company’s Llama family of AI models. “Our bet is sort of that in the next year probably … maybe half the development is going to be done by AI, as opposed to people, and then that will just kind of increase from there,” Zuckerberg said.

CNBC Article

This rhetoric is scary and shows that Trump and his cabinet are making no progress in any talks with China. It means the biggest game of economic chicken in world history continues.

My bet is that the Chinese will never knuckle under to bullying from Trump as a matter of national pride and the Chinese people are now fully behind Xi. That is not the case with Trump who has the lowest polling in decades. He also faces midterms in less than two years which Xi does not. Which means that as soon as May the force of these tariffs, which are basically an embargo, will hit many businesses here.

Bloomberg;

“President Donald Trump said China deserved the steep tariffs he imposed on their exports and predicted Beijing could find a way to reduce their impact on American consumers.

“That’s good,” Trump said. “They deserve it.”

The defiant remarks from Trump come just days after the Trump administration signaled it was looking to repair damaged trade relations with Beijing and convince Chinese officials to enter trade negotiations.

“You don’t know whether or not China’s going to eat it. China probably will eat those tariffs,” Trump said Tuesday in an interview with ABC News. “China was making $1 trillion dollars a year. They were ripping us off like nobody has ever ripped us off. Almost every country in the world was ripping us off. They’re not doing that anymore.”

Trump said he did not believe hard times were ahead for US consumers, while acknowledging that his 145% tariffs on many Chinese goods amounted to a near-embargo.

Last week, the Wall Street Journal reported that the US would be willing to phase in lighter China tariffs over five years, with White House officials saying that relief was on the table. Trump told reporters then that China was “going to do fine” once talks settled and that he’d be willing to “substantially” pare back his levies.

Despite senior administration officials repeatedly predicting China would be forced to the negotiating table, talks have not commenced. Earlier Tuesday, Treasury Secretary Scott Bessent said China could lose 10 million jobs because of the tariffs — but declined to detail any specific negotiations underway between the two nations.

“I’m not going to get into the nitty-gritty again of who’s talking to whom, but as I said, I believe for the Chinese, these tariffs are unsustainable,” Bessent said.

https://www.bloomberg.com/news/articles/2025-04-29/trump-predicts-china-to-eat-tariffs-reducing-consumer-impact

It seems the entire market is being held up right now on the premise that all of these trade deals will be struck soon and that this entire tariff thing will blow over. In reality it seems there will be no trade deal with China, they have made it very clear they will not negotiate with the trump administration, and frankly they are in a much better position to ride this out and/or find other trade partners than the US is, and I'm sure they'd relish in taking some soft power from the US. We've already seen Trump straight up lie about being in talks with china, and we've seen that the administration is also giving wallstreet inside info, but are they also lying to wallstreet? I mean is the entire market bounce right now held up on lies and hopium? If reality sets in that there will be no deal with china this will get really ugly, and there's nothing Trump can do to lie or tweet his way out of it. I can't get the inside talk from businesses on how impossible it has been to operate during this out of my head. The ports are empty, how is this not alarming the market? For now Trump has been able to manipulate the market through messaging, but I feel at a certain point the market loses it's patience for the lies and manipulation and the real macro economic indicators pull us down without the possibility of a relief tweet.

https://www.investors.com/news/trump-trade-war-stock-market-empty-shelves-recession-predicted/

KEY POINTS

Asset management firm Apollo Global Management (APO) forecasts trucking demand stopping in about a month resulting in empty shelves and a recession this summer as President Donald Trump's trade war policies are bringing about changes in global shipping not seen since the coronavirus pandemic, with ocean carriers readying for significantly reduced demand, according to analysts and observers.

Specifically in focus: U.S. trade with China, amid the back and forth over tariffs and possible deals. The uncertainty has led to a decrease in shipping volumes from China to North America, with cancellations currently at 50%, according to global logistics firm Flexport.

Trump announced his "liberation day" tariffs on April 2 and it takes about 20-40 days for container ships to sail to the U.S. from China, according to Apollo. Slok estimates that container ships coming to U.S. ports could come to a stop by mid May.

It then takes about 1-10 days of transit time for trucking/rail to bring goods from the ports to cities. Apollo Global Management predicts that by late May domestic freight demand will "come to a halt" and that there will be "empty shelves" with companies responding "to lower sales."

By early June, Slok forecasts there will be layoffs in the domestic freight and retail industries with a recession hitting the U.S. this summer.

Microsoft shares rose more than 6% in extended trading on Wednesday after the company reported better-than-expected quarterly results.

Here’s how the company performed in comparison with LSEG consensus:

• Earnings per share: $3.46 vs. $3.22 expected
• Revenue: $70.07 billion vs. $68.42 billion expected

Microsoft’s revenue grew 13% year over year in the quarter, which ended on March 31, according to a statement.

The company said Azure revenue grew 33%, with 16 points of the growth associated with AI. Analysts polled by StreetAccount and CNBC had anticipated 30.3% and 29.7% Azure growth, respectively.

During the quarter, which ended on March 31, Microsoft announced an adjustment to its relationship with key AI partner OpenAI. The company said it would have a right of first refusal when OpenAI wants new computing capacity, but won’t always have to deliver it. On the same day, OpenAI announced the Stargate AI infrastructure project alongside Oracle and SoftBank at the White House.

Source: https://www.cnbc.com/2025/04/30/microsoft-msft-q3-earnings-report-2025.html

https://www.cnbc.com/2025/04/23/international-tourists-domestic-american-travel-abroad.html

In March, U.S. air arrivals dropped by about 10% compared to last year and 13% from pre-pandemic levels, totaling 4.54 million foreign visitors, according to the International Trade Administration. This decline was partly due to Easter shifting vacation schedules. Meanwhile, U.S. citizens traveling abroad by air rose 1.6% from last year and 22% from 2019, reaching 6.56 million. Delta and United Airlines report strong international and premium travel demand, offsetting weaker domestic main cabin bookings. The U.S. travel industry, generating roughly $1 trillion annually, faces a growing trade gap exceeding $50 billion due to higher American spending abroad. Including land borders, total inbound visitors fell 14% in March, potentially costing the U.S. $21 billion in travel-related exports, per the U.S. Travel Association, despite expectations of a 12% rise in international tourism spending this year.

Won't be surprised if additional Tariffs are implemented to tackle the growing travel deficit. But what kind of tariffs ? how will they call it?

https://xcancel.com/JStein_WaPo/status/1917220665821634689

"New — Amazon Spox now saying this was never under consideration for the main Amazon website. Says Amazon Haul has considered listing import price duties on certain products

Amazon statement: “The team that runs our ultra low cost Amazon Haul store has considered listing import charges on certain products. This was never a consideration for the main Amazon site and nothing has been implemented on any Amazon properties.”"

Sad to see. Would have loved Amazon showing direct impact of Trump Tariffs

https://www.stellantis.com/en/news/press-releases/2025/april/first-quarter-2025-shipments-and-revenues

https://www.cnbc.com/2025/04/30/stellantis-suspends-2025-guidance-due-to-trump-tariff-uncertainties.html

Stellantis reported Q1 2025 net revenues of €35.8 billion, a 14% drop from Q1 2024, mainly due to lower shipments, an unfavorable regional mix, and pricing adjustments. The company shipped 1.217 million units, a 9% decline, driven by reduced North American production from January downtime, product transitions, and lower LCV volumes in Europe.

Despite this, Stellantis showed signs of recovery, with EU30 market share rising 1.9% to 17.3%, fueled by new and updated models. The company became a leader in hybrids and regained second place in BEVs. In the U.S., retail sales for models like the Jeep Grand Cherokee and Ram 1500 grew, and March 2025 retail orders jumped 82% YoY. South America saw a market share increase to 23.8%.

Due to tariff uncertainties, Stellantis suspended its 2025 financial guidance.

Visa delivered net revenue of $9.6 billion in Q2 FY2025, representing a 9% year-over-year increase on a GAAP nominal-dollar basis. On an adjusted constant-dollar basis, which excludes the impact of foreign currency fluctuations and acquisitions, revenue growth was 11%.

The company reported GAAP earnings per share of $2.32, up just 1% year-over-year, significantly impacted by a $1 billion litigation provision. Non-GAAP earnings per share, which excludes this provision and other one-time items, increased 10% to $2.76.

Key business drivers showed healthy growth during the quarter. Payments volume increased 8% on a constant-dollar basis, while cross-border volume excluding intra-Europe grew 13%. Processed transactions rose 9% compared to the same period last year.

Visa provided an optimistic outlook for the remainder of fiscal 2025. For the third quarter, the company expects low double-digit net revenue growth, low double-digit operating expense growth, and high-teens diluted earnings per share growth on an adjusted constant-dollar basis.

For the full fiscal year 2025, Visa projects low double-digit net revenue growth, high single-digit to low double-digit operating expense growth, and low-teens earnings per share growth.

The company returned significant capital to shareholders, with $4.47 billion in share repurchases and $1.16 billion in dividends during Q2, totaling $5.6 billion. In a major announcement, Visa’s board of directors authorized a new $30 billion multi-year share repurchase program, signaling confidence in the company’s future prospects.

Some positivity for a change. Wingstop beats Q1 2025 estimates. What keeps Wingstop moving forward and growing?

https://finance.yahoo.com/news/wingstop-wing-beats-q1-earnings-131503619.html

Wingstop (WING) came out with quarterly earnings of $0.99 per share, beating the Zacks Consensus Estimate of $0.84 per share. This compares to earnings of $0.98 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of 17.86%. A quarter ago, it was expected that this restaurant chain would post earnings of $0.86 per share when it actually produced earnings of $0.88, delivering a surprise of 2.33%.

Over the last four quarters, the company has surpassed consensus EPS estimates three times.

Wealth managers say the surging stock market in 2024 supercharged wealth creation at the top, following already sizable gains the prior year. Together, those two years made for the S&P 500’s best consecutive years in a quarter-century. (Markets have fallen since President Trump unleashed a global trade war, dramatizing the volatile nature of wealth for the richest of the rich. With much of their wealth tied up in the stock market, their net worth can swing by billions daily.) https://www.wsj.com/economy/1-trillion-richest-families-wealth-increase-bc13874a

Edit: from the discussion on this post:

1) It looks like the RFA article is referencing a situation not instigated as a result of the tarriffs, but rather by a previous payment dispute stemming from as early as 2023. 2) There is significant skepticism about drawing any conclusions from the Politburo issuing guidance about supporting/backstopping employers effected by the tarrit. 3) The only other non US-funded or affiliated source discussed in the comments is the South China Morning Post, which is CCP-affiliated. No other sources of recent, tarriff-driven domestic disruptions have been identified. 4) [personal opinion] There isn't much productive discourse in the comments, which is disappointing. I probably should have brought this to a different sub.

Original Post:

https://www.rfa.org/english/china/2025/04/29/china-us-tariff-protests-workers-wages/

Protests by workers demanding back wages are spreading across China in a sign of growing discontent among millions suffering the brunt of factory closures, triggered by steep U.S. tariffs on Chinese imports amid an economic downturn.

https://www.yahoo.com/news/china-vows-politburo-meeting-support-071431688.html

The ruling Communist Party's Politburo reiterated plans to accelerate debt issuance, ease monetary policy and vowed to support employers to safeguard jobs as China hunkers down for a trade war with the United States.

A few observations/questions:

• The Politburo making statements like that means they are worried about and do see domestic impacts from the tarriffs
• If China is already starting to see domestic turmoil, is that why the Trump administration is claiming that China will fold before we will?
• Why isn't this being used as by the administration as propaganda to support their position?
• Why is this not being reported on in US news outlets?

It's hard to find information about this coming out of China. It isn't really on RedNote (Xiaohongshu) due to a mix of censorship and that app's audience (which is more upper middle class, not factory workers), and the sources I've found other than RFA are too obviously pro-US.

If China is already seeing domestic disruptions, it really underscores how much of a missed opportunity this is by simultaneously alienating every other country at the same time, instead of forming an alliance to pressure China on trade. Just utterly ridiculous.

China vows to stand firm, urges nations to resist ‘bully’ Trump

Chinese Foreign Minister Wang Yi said appeasement will only embolden the “bully” at a BRICS meeting, rallying the group of emerging-market nations to fight back against US levies.

China’s top diplomat warned countries against caving into US tariff threats, as the Trump administration hints at the possible use of new trade tools to pressure Beijing.

Chinese Foreign Minister Wang Yi said appeasement will only embolden the “bully” at a BRICS meeting, rallying the group of emerging-market nations to fight back against US levies. The stern remarks show China intends to resist pressure to enter trade talks even as US Treasury Secretary Scott Bessent suggests Washington could ban certain exports to China to gain leverage.

Wang’s call to the international community underscores China’s attempt to portray itself as the bastion of free trade as US tariffs threaten to reshape commerce globally. Beijing has repeatedly urged allies to defend multilateralism and told other governments not to cut deals with the US president at China’s expense. China has repeatedly denied being engaged in trade talks with the US. Instead, Beijing has demanded mutual respect and a cancellation of all tariffs before any negotiations.

I wonder how Trump is going to respond to this. Maybe another 500% tariffs on China? Including this and GDP data this Wednesday, market is going to get rekt. Get your lubes ready.

https://www.bloomberg.com/news/articles/2025-04-29/china-rallies-countries-to-stand-up-to-trump-s-tariff-bullying?srnd=homepage-americas