Just a quick update in a day with a fast moving market. Trump's tariffs are eliciting a reaction among key supporters and the real economy. Pittsburgh based Howmet Aerospace, a key supplier to Airbus and Boeing, declared force majeure on its contracts owing to the new tariff regime. Force majeure is a legal practice allows enabling contracted parties to avoid obligations due to unavoidable or unpredictable external circumstances.
This measure is likely just the tip of the iceberg. We will undoubtedly see other signs of economic slowdown in the coming days.
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