Bond traders are banking on revenue from Donald Trump’s tariffs to bolster the US’s public finances, in a sharp switch from earlier this year when his trade war triggered a brutal sell-off in the Treasury market.
The US president’s sweeping tariffs on trading partners hammered global markets in April and sparked fears of an economic shock, prompting the president to suspend some of the levies.
But investors are now counting on hundreds of billions of dollars raised by the remaining tariffs to offset Trump’s tax cuts and keep a lid on US borrowing.
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