As of August, the president’s investment portfolio showed significantly more in bonds than in stocks. It is unclear if his personal holdings had any bearing on his decisions regarding tariffs.
In Washington, President Trump lavished praise on Prime Minister Giorgia Meloni of Italy. He also accepted her invitation to visit Rome.
Jerome Powell has said that the Federal Reserve can be patient as the effects of tariffs become more clear. President Trump, pushing for interest rate cuts, said, “Powell’s termination cannot come fast enough!”
Kristalina Georgieva, the managing director of the International Monetary Fund, warned in a speech that protectionism erodes productivity.
President Trump’s trade policies will make imports more expensive and calculating and paying the tariffs more complicated.
The idea of raising taxes on rich Americans has caught the Republican Party between its populist ambitions and low-tax instincts.
The country’s debt is in demand amid the chaos in financial markets spurred by whipsawing U.S. tariff policies.
In the usually steady government bond market, the yield on the 10-year Treasury has risen to about 4.5 percent from less than 4 percent at the end of last week.
A new survey from the University of Michigan shows consumers souring sharply on the economic outlook as the trade war heats up.
