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Analysts at ANZ Bank explained that the US CPI was weaker than expected with headline at 2.7% y/y and core at 2.2%. Apparel costs were a big driver of the decline – but apparel will be caught square in the trade wars if Trump goes ahead with not only his proposed USD200bn of tariffs but his touted potential extra USD267bn on top of that.

TRUMP TWEET:

“The Wall Street Journal has it wrong, we are under no pressure to make a deal with China, they are under pressure to make a deal with us,” Trump said in a Twitter post-Thursday. “Our markets are surging, theirs are collapsing. We will soon be taking in Billions in Tariffs & making products at home. If we meet, we meet?”

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