Macro impact doesn’t seem large according to Yale Budget Lab, but I can hardly wait to see how much a 50% increase in Ozempic and Wegovy prices will go over with the public.

Source: FT.

There is speculation that Mr. Trump is using one of a a similar GLP-1 agonist medication, but we can’t be certain.

The announcement of a 50% tariff on EU goods imports (up from 10%) would seem to put to rest the proposition that the trade war has settled down on something like a 10% universal rate.

Expect more trade policy uncertainty indices to kick up…