This week Donald Trump declared ‘Liberation Day,’ unveiling a barrage of tariffs that had been trailed as correcting unfair trade practices overseas. In a theatrical Rose Garden ceremony, the US president presented a table, detailing a slew of new “reciprocal” tariffs targeting nations right across the globe.
A sharp market reaction might lead to a change of heart in the White House
Traditionally, trade reciprocity implies matching another country’s tariffs tit-for-tat.
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