Thu 07 Aug 2025 - 15:00

While the market sees TACOs around every corner, Xi Jinping may be getting frog-boiled

The US is happy with the status quo while it moves the ball on strategic decoupling

The lowering of tariffs on allies for steel, semiconductors and other critical sectors is key to strategic decoupling

Enforceable constraints on trans-shipping will raise China’s de facto tariff rate considerably

When the frog jumps, its risk-off