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The newest issue of the Position
One against all
Donald Trump and tariffs. This will likely become the defining issue of his second term as President of the United States. Trump presented his global tariff regime with great fanfare in the White House garden as a reaction to what
he sees as decades of ‘cheating’ the American people. But it wasn’t long before he backtracked. Bond and equity markets sounded alarm bells, and Trump, seemingly receptive, said he would take the time needed to negotiate.