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 he would impose a 30% tariff 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 180-degree U-turns. "Investors shouldn't just treat Trump's threat of 30% tariffs on EU goods as a bluff," said Brian Jacobsen, chief economist at Annex Wealth Management. "This tariff level is punitive, but it may hurt the EU more than it hurts the U.S., so time is running out." (Golden Ten) [BlockBeats]