Bonds & Stocks
Bond traders have lifted bets on interest-rate cuts from the Federal Reserve amid concern that Donald Trump’s trade war will backfire on the US economy, sending the yield on benchmark Treasuries toward the closely-watched 4% level.
Economy
President Donald Trump imposed the steepest American tariffs in a century as he steps up his campaign to reshape the global economy, sparking threats of retaliation and a selloff in markets around the world. Trump announced Wednesday he will apply at least a 10% tariff on all exporters to the US, with even higher duties on some 60 nations, to counter large trade imbalances with the US.
World
Donald Trump’s latest tariff hikes threaten to inflict a bigger hit on China’s economy than it suffered during his first trade war. The 54% US tariffs on China’s goods announced since the start of Trump’s second presidential term may drag the country’s gross domestic product growth down by 2.4 percentage points in 2025, according to Citigroup Inc., an assessment it says was made before considering any offsetting measures.