WASHINGTON – President Donald Trump insisted on April 11 that his tariff policy was “doing really well” despite China hiking levies on US goods to 125 per cent in the spiralling trade war between the world’s two biggest economies.
Investors dumped US government bonds, the dollar tumbled and stocks seesawed after Beijing’s retaliation against Mr Trump deepened concerns on already traumatised global markets.
Mr Trump sent financial markets into a tailspin by announcing sweeping import taxes on dozens of trade partners last week, only to abruptly roll them back to 10 per cent on April 9 for 90 days – while raising levies on goods from China.
“We are doing really well on our…