Trade Uncertainty Has Become...a Form of Certainty

On April 2, Donald Trump announced sweeping global tariffs on almost every country in the world, with 10% tariffs across the board and additional rates on most countries between 25% and 50%. He declared it “Liberation Day.” Financial markets globally crashed instantly, shedding trillions of dollars, and Trump’s popularity sagged. What followed was a series of incoherent declarations, announcing tariffs one day and then delaying them the next, until a newly invented deadline of August 1. That day has arrived, and the trade war is over. Read Full Article »