Tariff Confusion Leaves Markets Rudderless
Financial markets are staging a modest relief rally after the Trump administration seemed to quietly grant a partial tariff carveout to smartphones and consumer electronics – helping ease fears of a sharp rise in US consumer prices. North American equity futures are setting up for an advance at the open, Treasury yields are incrementally lower, and the dollar is cruising toward a fifth day of losses. Some of Asia’s biggest export categories will be excluded from the government’s new tariff regime, according to a notice posted late Friday night by US Customs and Border Protection, suggesting that the administration is...