A solid chunk of President Trump’s latest sit-down interview with one of his favorite reporters – the OG “money honey” Maria Bartiromo – was devoted to the president’s latest belligerent musings about China, the latest in an escalating tit for tat as at least one hedge fund titan subtly warns that ‘World War III’ between the US and China might be a tail-risk worth hedging against.

Asked about the US-China bilateral relationship, Trump replied “we could cut off the whole relationship,” saying the US “could save $500 billion” by doing so.

For those who don’t understand the significance of this last remark, it’s a reference to cancelling some of the massive pile of Treasury debt held by China.

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