Analyst: Trump's weekend tariff increase once again challenges market resilience

On July 13, analysts said that financial markets, which are increasingly insensitive to the threat of U.S. tariffs, will face a test when they open on Monday, after Trump announced over the weekend that a 30% tariff would be imposed on the EU and Mexico starting August 1. Trump has recently stepped up trade measures, promising to impose more tariffs on all countries from Canada to Brazil to Algeria, and inviting trading partners to further negotiations. Despite warnings from JPMorgan Chase CEO Jamie Dimon and others not to be complacent, investors' reactions so far have been like counting on the U.S. president to back down again, as they have seen previous U-turns. Brian Jacobsen, chief economist at Annex Wealth Management, said: "Investors should not simply treat Trump's threat of 30% tariffs on EU goods as a bluff. This tariff level is punitive, but may hurt the EU more than the U.S., so time is running out." (Golden Ten) [BlockBeats]