WALL STREET

FAR-SIGHTED WALL Street traders are already betting on when the Trump tariff regime will come to an end.

A few brave fund-managers are buying what are called Tariff Default Obligations, instruments that will pay out if the US President lifts a tariff regime from a particular country.

“This is the big trade of this decade,” says Gordon Berry, who bet against housing in 2008, and has been betting against Disney movies for years now. “We’re perfectly hedged if this thing goes real ugly real quick. Trump has to show results within a year. Even that might be too long. Most of the money’s on a collapse, but we’re prepared for a miracle – we’re long futures options to cover ourselves.”