'So much for being Mr. Nice Guy': Trump says China has 'totally violated' tariff agreement with US
US trade talks with China were 'a bit stalled' and getting a deal over the finish line will likely need the direct involvement of President Donald Trump and Chinese President Xi Jinping, US Treasury Secretary Scott Bessent told Fox News on Thursday.
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Economic Times
31 minutes ago
- Economic Times
Why we go bonkers for fancy brands – even when it makes no sense
Juliet's famous lament - 'What's in a name?' - questioning the value placed on names and lineage, found new relevance recently. Social media posts from Chinese manufacturers showcasing the production of high-end luxury goods in their factories - and urging consumers to buy directly from them, although without the brand label - once again highlighted the powerful psychological grip brands hold over us. Perceived value has been alluring to humans for as long as the species has existed. Things are coveted for the single and simple reason that they are coveted by others. Possession of such items gives one pleasure because of the thought that others now think they have reached some standing. Earlier, this covetousness was limited to precious metals and stones. This has now extended to brands. The dictionary defines a brand as 'a type of product made by a particular company and sold under a particular name'. This simple definition, however, only encapsulates the making and the selling - it does not touch the psychological dimension of emotions that a 'brand' generates for the brand's owners, and for those who want to be owners. For example, a wristwatch is not an object needed to tell time anymore. It is used to signal that one has arrived. If one brand signals status, then two must signal a higher one? Except if they are on the same product. I recently came across a real example. I saw a Maruti Omni mini-van sporting a Toyota logo - quite a jarring sight. It took me back to my school days in Pune, where on a 'Chor Bazaar' street in the cantonment area, you could find shoes bearing a Nike logo on one side and Adidas on the other. Now imagine a BMW with Jaguar's leaping cat gracing the hood, or a Louis Vuitton bag adorned with Chanel's interlocked area where dual brands don't cause cognitive confusion is academia. There are joint programmes offered by universities, and one can imagine a certificate with the logo of two universities. In fact, a degree that has the logo of two high-ranking colleges would be highly sought after. A similar psychological reaction is expected to an endorsement from multiple companies - say, as part of a joint training programme, especially if the entrance criteria are multiple brands don't make sense when they are on the same manufactured product. But they are coveted when they signal learning, or acquisition of complex calculus underlies our interaction with brands. An alien species studying human choices would reach these conclusions for our decision-making rules related to brands:1. Covet what others have and want.2. There's no constraint on items that can be pursued. Only rule 1 should be satisfied. These can be anything from tulip bulbs to colours on paper.3. Sometimes, one's own needs are superseded by Rule #2. 4. Show it off once it is acquired.5. Protect the label more than the product. The item loses its value if the label gets damaged - even if the product is functioning at full efficiency.6. One brand is good, two are super - but not in all instances (see above).6. Sometimes, ownership is not the goal. Acquire now to sell later at a higher value.7. Sometimes, showing off is not the goal. A concealed display is required to protect it. Just knowledge within the community that one owns it, is satisfying.8. Even though brand and label acquisition signals wealth, a direct demonstration of wealth -- such as displaying one's net worth -- is aliens might have to scratch their heads to make a logical framework that accommodates these behaviours. Even if they managed this task, they would be dumbstruck by learning what we think differentiates us from other species - that we consider ourselves rational. The writer is MD, Resonance Laboratories, Bengaluru (Disclaimer: The opinions expressed in this column are that of the writer. The facts and opinions expressed here do not reflect the views of Elevate your knowledge and leadership skills at a cost cheaper than your daily tea. What's slowing Indian IT's AI deals? The answer is hidden in just two words. Jolt to Çelebi could turn a big gain for this Indian firm that once had deep Turkish ties Nestlé India's outgoing CEO Narayanan weathered the Maggi storm; Tiwary must tackle slowing growth Uncle Sam vs. Microsoft: Which is a safer bet to park money? ONGC squandered its future once. Can it be different this time? Will revised economic capital framework lead to higher RBI dividend to govt? These large- and mid-cap stocks can give more than 30% return in 1 year, according to analysts Buy, Sell or Hold: Emkay Global upgrades SAIL to buy; YES Securities sees 13% upside in VA Tech Wabag Railways stocks: Time to be contrarian; will bearish analysts go wrong again? 6 stocks, 2 with buy recos, 4 with sell recos
Economic Times
31 minutes ago
- Economic Times
Wall Street loves the laughs: Trump acronym parodies like TACO and FAFO take meme markets by storm
Wall Street traders are using acronyms to comment on Donald Trump's policies. These acronyms, like TACO and FAFO, reflect market volatility. They also highlight investor concerns about economic risks. The White House dismisses these acronyms as ridicule. Tired of too many ads? Remove Ads What are traders saying with acronyms like TACO and FAFO? How are markets reacting to Trump's unpredictable policies? Tired of too many ads? Remove Ads How did the White House react to the acronym parodies? Could these acronyms be considered as mere jokes or do they serve as meaningful indicators? Tired of too many ads? Remove Ads FAQs Wall Street is more than just numbers and financial jargon; apparently, it's also got jokes. During President Donald Trump's second term, traders are transforming his slogan-heavy style into meme-worthy "TACO" to "FAFO," these acronym parodies are popping up on trading desks and in market chatter. Although they are often amusing, these memes reflect serious investor concerns regarding changing policies and economic risks during Trump's second observers have taken advantage of President Trump's habit of shortening slogans into acronyms like MAGA, DOGE, and MAHA, and they have been circulating among trading desks for the past four months of his second abbreviations devoid of a trading strategy capture elements that traders claim are crucial in Trump-era markets, like volatility and uncertainty, which investors should take into account when making strategies that benefited from Trump's trade, economic, and international relations policies are linked to some of the new labels. Others discuss his economic ramifications or abrupt reversals in response to his proposals from trade partners and to Potomac River Capital LLC 's chief investment officer Mark Spindel, the market is stuck in a "pinball machine as a result of Trump's policymaking process."In an email, White House spokesperson Kush Desai said that these ridiculous acronyms demonstrate how uncritical analysts have ridiculed President Trump and his agenda, which has already produced a number of inflation and employment reports that exceeded expectations, as quoted in a report by the following acronyms have gained popularity in the investment community, as per a report by Reuters:A Financial Times columnist came up with the term "TACO" (Trump Always Chickens Out), which has been used to characterize Trump's back and forth on tariffs following his "Liberation Day" speech on April 2. During a recent press conference, the president snapped at a question about TACO, calling it "nasty."The term "MEGA" (Make Europe Great Again) was first used to discuss European competitiveness last year, but it reappeared this spring to refer to the surge of investor interest in and flows into European markets. Online shopping for MEGA hats, which mimic their MAGA counterparts, is simple. Due to the outperformance of European stocks immediately following Trump's "Liberation Day" tariff bombshell, traders and investors have given it new America Go Away (MAGA): Although the original Trump trade was also referred to as the MAGA trade, this version adopted the president's motto. It initially surfaced in reaction to Vice President JD Vance's short-lived and unsuccessful trip to Greenland, a Danish autonomous territory that Trump has indicated he would like to annex. The joke is circulating among trading desks in Toronto and Montreal, according to at least one Canadian investor, and it is causing "wishful thinking" about merely boycotting U.S. (Fuck Around and Find Out) is an acronym that was coined long before Trump was elected president, but it is becoming more and more common in trading desk discourse. It is employed to record the chaos and volatility of the financial markets brought about by Trump's policymaking process."YOLO (You Only Live Once) seemed to encourage outsized risks in concentrated investment themes," Art Hogan, a strategist at B. Riley Wealth, stated after the tendency that was a part of that Trump trade to pursue high-momentum strategies, like cryptocurrency, is referred to by the acronym YOLO. "While the term YOLO was popular for a period of time, it contradicts all conventional advice," Art Hogan stands for "Trump Always Chickens Out,' it mocks Trump's inconsistency on key issues such as tariffs, implying that he frequently backs down from bold use them to mock the chaos, volatility, and mixed signals in Trump-era markets. They're entertaining, but they also address legitimate investor concerns.
Economic Times
31 minutes ago
- Economic Times
Tariff troubles: Voters say Donald Trump's gone too far on trade as approval rating takes a serious hit
Donald Trump's approval rating is declining amid economic turmoil caused by his policies. Increased tariffs, trade wars, and rising prices have led to public frustration, particularly regarding the economy. Polls indicate significant disapproval of Trump's handling of trade, cost of living, and the overall economic situation, with a majority feeling he has gone too far with tariffs. Tired of too many ads? Remove Ads A Rocky Return to Office Economic Challenges Sparks Public Frustration Poll Numbers Show Deepening Disapproval of Donald Trump Tired of too many ads? Remove Ads Tariffs Emerge as Major Pain Point FAQs After months of economic chaos in the United States , triggered by steep tariffs, trade wars, and rising prices, more and more Americans are showing resistance against US president Donald Trump as his approval rating is slipping fast, especially when it comes to the economy, according to a return to office has been rocky, since March, approval for his job performance has steadily dropped, reported Yahoo News. In March, 50% of Americans disapproved of the job he was doing, compared to 44% who approved, as per Yahoo News/YouGov poll. By April, that gap widened to 11 points. Now, in late May, only 41% of Americans approve of how Trump is handling his role, while 54% disapprove, as per Yahoo News. It's one of the lowest ratings he's seen since the end of his first term, as per the READ: Is Tesla's robotaxi a long-term threat to Uber's business model? Wedbush Securities weighs in The economic fallout appears to be a major reason. Over the past few months, Trump has made headlines with tariffs as high as 145%, sparking retaliatory moves from global allies, confusing markets, and stressing small businesses, and for Americans, it's meant rising prices on the things they buy, according to Yahoo frustrations are showing up clearly in the numbers as Trump is now 19 points underwater on the economy overall, just 37% approve of how he's handling it, while 56% disapprove, as per the poll. On trade and tariffs specifically, only 35% approve, while 57% disapprove, a 22-point gap, reported Yahoo News. On the cost of living aspect, just 32% approve of how Trump is managing it, while 59% disapprove, putting him 27 points underwater on what matters most to many households, according to the compare, back in mid-2020, during the height of the COVID-19 crisis, Trump's economic approval averaged 49%, with 45% disapproving, reported Yahoo READ: Donald Trump's next targets for immigration crackdowns revealed—here's the list Americans are feeling the impact of his trade moves as 57% say Trump has 'gone too far' in raising tariffs on imported goods, while 51% say he's gone too far in cutting the federal workforce, 49% feel he's gone too far in arresting and deporting immigrants, as per the report. The poll also found that 45% think he has gone too far in investigating his political opponents, according to the report. While, only 4% of Americans say Trump's approach to raising tariffs has 'not gone far enough,' reported Yahoo sentiment is shifting how people see the economy, in April, 35% of independents rated the economy as 'poor,' as per the poll. Now, that number has jumped to 45% and while, overall, 72% of Americans now say the economy is either 'fair' or 'poor', just 25% call it 'excellent' or 'good', reported Yahoo 41% approve of his performance, while 54% disapprove, his worst numbers since late in his first most of the frustration is focused on rising costs, trade policy, and the general economic outlook, as per the survey.
