The chaos continues, though global stock markets appear immune to it five-and-a-bit months into Donald Trump's second stint in the White House.
Overnight, the US President ordered US tariffs on steel and aluminium imports to double to 50%, effective from June 4, sparking concern among global leaders and businesses. Or that's what the major news outlets are reporting.
Frankly, traders, jaded by Trump's Grand-Old-Duke-of-York routine (marching up to the top of the hill and then back again), appeared to shrug and then return to the normal round of business.
The FTSE 100 opened in the green, Dow ended the session up and Asia's main markets were broadly higher, with the only damage done (intentional, or not) to the dollar.
And there's the new sobriquet for the president: TACO, which stands for Trump always chickens out. It seems global markets have embraced this, feeling that after the huffing and puffing, the upshot will be that little changes.
The United Kingdom is the only country exempt. The Organisation for Economic Cooperation and Development (OECD) warned the move is slowing global growth, now projected to hit its lowest pace since the pandemic.
OECD chief economist Álvaro Pereira urged countries to reduce trade barriers or face serious economic consequences.
Good luck with that, Álvaro.