The markets first showed their true heft earlier this week when they precipitated a surprise de-escalation, essentially forcing President Trump to concede to a global import tariff rate of 10 percent for all trading partners of the US barring China, which remained subject to a punitive tariff rate of 145 percent. This rapid change of heart at the White House was apparently triggered by the disorderly selloff in the bond market. China tariff changes in the last 10 days: April 2: 54%April 8: 104% April 9: 145%April 12: Exempts electronics bringing average weighted rate back to 104%. My head is […]
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