Carsten on the damage done by Trump’s tariff chaos

If you've ever tried to fix your laptop with a sledgehammer, you'll know the chances of fixing it properly are close to zero. The damage is done. And that, says ING's Carsten Brzeski, is where the global economy is right now, surveying the mess.

America is facing an imminent inflationary shock, while Europe has the opposite problem. The related uncertainty will weigh on economies worldwide.

We could, of course, be seeing real, historic structural change that only happens every few decades.

But few can confidently determine whether it's going to be a change for the better.