Precipitous Tempi

The world is in freefall, with the US imposing strict tariffs on Canada, China and Mexico. In its reply, the trio has been obdurate, pushing the globe into turmoil

- RAJEEV NARAYAN

"To hold someone down, you have to hold the end of the chain. You are confined by your own repression." -Toni Morrison

We are in February, a month of 28 days (except for each fourth, 'leap' year). This fact is trivial. What's not are the last 28 days—four fateful weeks that have thrown the world into upheaval. Since the second inauguration of Donald J Trump as United States President on January 20, things have 'evolved'. I am using a kind word as it is a Monday and no one likes to start a new week with inconsiderate or unsympathetic gobbledygook. Especially so when the world faces what many call Trumpocalypse, a phenomenon that is occurring for the second time. In its first avatar, Trumpocalypse eddied much of the world into bedlam. In its second incarnation, it looks like it will be even more brutal.

Year 2025, Month 2. Donald Trump is back in the White House for a new round of economic warfare, Twitter 'X' tirades (or whatever platform he now favors) and governance by turmoil. The man has barely warmed up his seat in the Oval Office and, already, global markets, economies and international relations are reeling from the impact of his executive orders, tariffs and immigration policies.

The world is in freefall, especially as a re-invigorated US President wasted no time in passing tariff orders against Canada, China, Mexico and any other countries he felt were 'ripping off' America. Predictably, the affected nations responded. Canada was trite and parsimonious in the imposition of its own retaliatory tariffs, hitting US dairy and steel. China, never one to back down, escalated the war by slapping levies on US electronics, soybeans and automobiles. Mexico, apart from hitting back with tariffs on corn and agricultural products, fast-tracked a $5-billion alternative to the Panama Canal to control sea trade in the region, threatening a massive US economic opportunity.

Markets Respond. Crash