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Bottom line: the world's two largest economies are in a full-blown trade war - and there are no winners.
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Oil and the dollar slid on fears of a global slowdown while gold hit a new record above US$3,200, as investors spooked by Trump's erratic policies dumped normally rock-solid US Treasuries.
"The sugar high from Trump's tariff pause is fading fast," said Stephen Innes at SPI Asset Management.
"Bottom line: the world's two largest economies are in a full-blown trade war - and there are no winners."
Oil and the dollar slid on fears of a global slowdown while gold hit a new record above US$3,200, as investors spooked by Trump's erratic policies dumped normally rock-solid US Treasuries.
"The sugar high from Trump's tariff pause is fading fast," said Stephen Innes at SPI Asset Management.
"Bottom line: the world's two largest economies are in a full-blown trade war - and there are no winners."
Oil and the dollar slid on fears of a global slowdown while gold hit a new record above US$3,200, as investors spooked by Trump's erratic policies dumped normally rock-solid US Treasuries.
"The sugar high from Trump's tariff pause is fading fast," said Stephen Innes at SPI Asset Management.
"Bottom line: the world's two largest economies are in a full-blown trade war - and there are no winners."
Oil and the dollar slid on fears of a global slowdown while gold hit a new record above US$3,200, as investors spooked by Trump's erratic policies dumped normally rock-solid US Treasuries.
"The sugar high from Trump's tariff pause is fading fast," said Stephen Innes at SPI Asset Management.
"Bottom line: the world's two largest economies are in a full-blown trade war - and there are no winners."
Oil and the dollar slid on fears of a global slowdown while gold hit a new record above US$3,200, as investors spooked by Trump's erratic policies dumped normally rock-solid US Treasuries.
"The sugar high from Trump's tariff pause is fading fast," said Stephen Innes at SPI Asset Management.
"Bottom line: the world's two largest economies are in a full-blown trade war - and there are no winners."
Oil and the dollar slid on fears of a global slowdown while gold hit a new record above US$3,200, as investors spooked by Trump's erratic policies dumped normally rock-solid US Treasuries.
"The sugar high from Trump's tariff pause is fading fast," said Stephen Innes at SPI Asset Management.
"Bottom line: the world's two largest economies are in a full-blown trade war - and there are no winners."
Critics say Trump's policies are causing chaos for companies that rely on complex supply chains, alienating close allies and making goods more expensive for US consumers.
Howard Lutnick, his commerce secretary, posted on social media on Thursday that "the Golden Age is coming. We are committed to protecting our interests, engaging in global negotiations and exploding our economy."
The EU welcomed the US president's partial row-back and proffered its own olive branch, suspending for 90 days tariffs teed up on €20 billion (US$22.4 billion) worth of US goods.
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As China battles to find allies against Trump's trade war, Xi will travel next week to Vietnam, Malaysia and Cambodia, where the tariff drama is expected to feature high on the agenda.
As China battles to find allies against Trump's trade war, Xi will travel next week to Vietnam, Malaysia and Cambodia, where the tariff drama is expected to feature high on the agenda.
The hike comes after the White House kept the pressure on the world's No. 2 economy and second-biggest provider of US imports by singling it out for an additional tariff increase, having paused most of the "reciprocal" duties imposed on dozens of other countries.
