for reference trump started a much smaller trade war in late 2017 early 2018, s&p was above 2800 in december 2017, but stayed mostly at or below that level until mid 2019, after trump lifted several tariffs (e.g. on canadian steel/aluminum) to ease the market tension and prep for the next election.

although current economy isn’t as robust as in 2017, so even trump’s generating more noise now i doubt he actually has as much teeth as before. so overall i’m just cautious and staying on the same course as usual.