Italian
While Donald Trump triumphantly proclaims that his trade war “is going very well,” the world economies, investors, and even some of his most loyal economic allies are starting to feel the ground shaking beneath their feet.
UNITED STATES OF AMERICA. The current phase of the US markets has been defined as “extraordinarily volatile”, and not without reason: just think of the 12% plunge of the S&P 500 in four days, followed by an almost specular 10% rebound after Trump’s partial U-turn on tariffs. To all this is added the shadow of a potential insider trading scandal, with accusations involving presidential communication and its direct effects on the market.
Behind the boastful statements – “It’s a great time to buy!” Trump wrote on Truth Social – hides a worrying economic picture: consumers’ inflation expectations have risen to the highest level since 1981 (6.7%), Americans’ confidence has plummeted, and the increasing political polarization directly affects the economic perception.
Trump keeps talking about a “golden age” just around the corner, but the signals suggest an imminent storm. Larry Fink, CEO of BlackRock, and Jamie Dimon of JPMorgan Chase are not known for alarmism: yet both openly speak about recession and “significant turbulence.” It’s not just pessimism: it’s realism.
Meanwhile, China is not standing idly by. With tariffs of 125% on American products and the accusation of “unilateral coercion,” Beijing is hitting back, undermining further trust in global trade. Big companies like Tesla, forced to withdraw their models from the Chinese market, show how aggressive policies have tangible and immediate impacts.
However, at the White House, they still talk about phones that “keep ringing” and an economy “growing rapidly.” The gap between political rhetoric and economic reality has never been so marked. And it is in this crack that the real danger creeps in: that of a crisis driven not by economic necessity, but by a political strategy that plays with fire.
The world is watching, markets are fluctuating, and citizens – torn between anxiety and distrust – are getting ready to pay the price of a trade war that promised greatness but risks leaving only debris.
