“The US administration’s framing of its trade agenda has focused on how tariffs will help restore the US’s industrial base. It has long been known that globalization did not benefit all segments of society equally, and President Trump has spoken directly to the cohort often referred to as ‘those left behind’. The pause on reciprocal tariff implementation demonstrates that the US administration is somewhat responsive to economic and financial market concerns about its trade policy. This pivot was well received by markets, with the S&P 500 rising nearly 10% on 9 April alone.”
Morten W. Langer
