Tariffs won’t go away after today but at some point, the market will shift all its attention to taxes and the budget. Trump has made many promises but one of them is to cut the deficit, and many members of Congress have staked their careers on that point.
It’s going to be hard.
Reuters report that the Senate budget writing committee has been instructed to increase the deficit by $1.5 trillion (over 10 years) to extend the Trump tax cuts that are due to expire at year end.
This article was written by Adam Button at www.forexlive.com.
