Trump’s comments regarding trade can typically swing the markets, but the reactions have been mostly subdued with the Dow Jones Industrial Average up about 17 points, the NASDAQ up 30 points and the S&P 500 up half a point as of 11:00 a.m. ET. This could be a sign that the markets are beginning to develop an immunity from the ill effects of trade wars.

“If you believe the market is smarter than persnickety politicians and their highly triggered friendlies, then it would appear that the majority of investors are learning to live with tariffs and rumors of trade wars,” said Forbes contributor Kenneth Rapoza.

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