KW: Jim Rickards writes: ‘When the trade wars erupted in early 2018 (after threats by Trump and others as early as 2015), I said that the trade wars would be long-lasting and difficult to resolve and would have significant negative economic impacts. Wall Street took the opposite view and estimated that the trade war threats were mostly for show, the impact would be minimal and that Trump and China’s President Xi Jinping would resolve their differences quickly. As usual, Wall Street was wrong. Trump’s top trade adviser. Navarro makes it clear the trade wars will not be resolved soon. He also tells Wall Street to “get out” of the policy process. Here’s the major warning being sent out to Wall Street from leaders at the White House and why the trade war is only getting started.

White House adviser Navarro to Wall Street: Stay out of U.S.-China trade talks

https://www.reuters.com/article/us-usa-trade-china-navarro/white-house-adviser-navarro-to-wall-street-stay-out-of-u-s-china-trade-talks-idUSKCN1NE24K