The bond market may have contributed to the tariff decision.But did not cause a panic move.We have set up a process so that tariff deals can be orderly.Conversations on China have not begun yet.Tariff revenue is expected to help reduce the deficit and help bond markets.There's a big inventory of deals that are right close to the finish line.Two trade deals are almost closed as of last week.Asked if tariffs are pemanent, Hassett replied "everyone expects 10% tariffs to be the baseline"."Extraordinary" deal needed to go below 10%.
Well, well, well. This confirms what everyone speculated: the bond market forced Trump's hand. Hassett is also saying that they can go below 10% but the conditions will need to be extraordinary (whatever that means).
This article was written by Giuseppe Dellamotta at www.forexlive.com.
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