When president Trump was elected the markets rejoiced in the fact that there was a business-friendly administration which would help nurture the American corporate landscape by doing all the things needed for solid economic growth.
After eight years of an anti-business climate in Washington, things were changing. And they did change. Unnecessary, restricting regulations were rolled back and taxes were cut dramatically. But the recent attack on Amazon coupled with the tense trade relationship with China has many of us asking, "Is this any way to grow the economy?"
"Trade wars are easy to win," at least that's what the president told us when he announced tariffs on steel and aluminum a couple weeks ago. But as we have witnessed over the last few days of market action, the ancillary effects of a 'trade war' can leave serious collateral damage.
The reality is that protectionism, in every form, must be resisted at all cost or we run the risk of a severe meltdown in the capital markets.