Please see below for a few thoughts from Peter Tchir this morning: 1) Why didn’t anyone think that not putting tariffs on USMCA compliant goods was smart up front? That doesn’t give me comfort. It seems like that should have been discussed. Let alone the attempts to define what “fentanyl” is related to Canada and Mexico versus what is part of the broader “fair treatment” tariffs yet to come? 2) The idea that Trump is focused on a legacy of jobs and the middle class in the U.S. and not on the S&P 500 levels is gaining traction (discussed in ... 3 Quick Things