How US bond market fury stopped Trump’s trade war

News Snapshot:

The past ten days have been a turbulent period for the global economy, with volatility shaking key markets and raising concerns about broader economic stability. On April 2, US President Trump invoked the International Emergency Economic Powers Act to announce his “Liberation Day” tariff policy, which applied to imports from all countries except Canada and Mexico. The policy featured a two-tier structure: first, a baseline 10% tariff on imports from all nations; second, country-specific “reciprocal” tariffs targeting what the US government considered unfair trade practices by around a hundred countries, with China being a primary target. But by the end...