Liberation Day, Tariff
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Stocks soared after Mr. Trump's April 9 announcement, with the S&P 500 gaining 8.4% in afternoon trading and the Dow Jones Industrial Average surging 7%.
From CBS News
The climbdown provided relief, but is no return to business as usual.
From The Financial Times
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The Trump administration’s latest trade offensive is underway as Customs and Border Protection (CBP) begins enforcing “Liberation Day" tariffs, pulling in more than $200 million a day.
Trump's "Liberation Day" makes even Joe Biden's $400 billion ... far from clear that the IEEPA authorizes the use of tariffs, that we have an emergency here, or that there is any "unusual and ...
Chinese leader Xi Jinping said there were no winners in a trade war, in his first public comments on the matter since President Trump’s “Liberation Day” announcement last week. “There are no winners in a tariff war.
President Trump's tariff pause was due to the outpouring of calls from foreign nations looking to make deals and Trump wanting to fix the national emergency of trade deficits.
It's been one of the most chaotic stretches for US markets in recent memory. And the massive surge in long-term Treasury yields has served as yet another example of the bizarre trading action in the aftermath of President Trump's tariff-fueled "Liberation Day.
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Trump has championed his tariffs despite a historic selloff across U.S. markets, claiming his levies would bring in “billions.”