[ck2]

article actually explains it well

uses same small technique Biden and even Obama used

"Section 301 of the Trade Act of 1974"

just lazily applies it to the whole damn globe instead one or two countries like they did

(aka he's taxing the penguins again)

except all the crude oil markets now are closing at $100 for September and there's no sign it's going down in October or why even before 2029

$100/barrel = $5 gallon of gas, $6 diesel

[toomuchtodo]

China did the world a solid by rapidly curtailing oil imports to try to stave off the pain from these geopolitical decisions. Alas, we have encountered conditions even China cannot manage. The oil futures curve tells the painful story ahead, as you mention.

https://youtu.be/BkA0bkb6ZO0

https://www.scmp.com/economy/china-economy/article/3361206/c...

Best one can do is continue to decouple from the US whenever possible of a trade partner, or if a natural person, leave the US for a developed country or hunker down until there is political will to reverse these suboptimal policies.