Trump’s endless trade threats come at a growing cost

A MERICA’S ECONOMY is looking peaky. Inflation expectations are creeping up. On March 25th consumer confidence fell to its lowest in 12 years. But Donald Trump, the country’s president, says relief is at hand. “Liberation day” for the economy will arrive on April 2nd, he proclaims, when he intends to slap hefty new tariffs on imports from all over the world.

Even if America lifts sanctions, the old continent has its own weapons

When demand softens, the secondary market absorbs the pain

Investors may have misjudged which firms would thrive under the new administration

More remarkable than slumping share prices are the forces behind them

American investors are extremely exposed to a sell-off—and so is the economy

Two new books contain much to commend them

https://www.economist.com/finance-and-economics/2025/03/25/trumps-endless-trade-threats-come-at-a-growing-cost

A source: www.economist.com/finance-and-economics/2025/03/25/trumps-endless-trade-threats-come-at-a-growing-cost