As President Donald Trump doubles down on his “America First” trade war, the spillover is striking home in one place no one predicted: the US dollar and government debt, as per a report.
The Trade War’s Unexpected Victims
Since his Inauguration Day, the dollar has fallen almost 10%, with over half of that decline occurring in just the last month, as per the Washington Post.
The reason was the sudden rise in tariffs, at their highest level since 1909, which was announced by Trump earlier this month and then again paused. The uncertainty has unsettled international markets and investors.Head of macro research for London’s AXA Investment Managers, David Page said, “The administration’s approach to policy and its lack of transparency in terms of motivations have all led to a distinct sense of unease in financial markets,” quoted the Washington Post.
The long-term US government bonds, traditionally regarded as one of the world’s…
