1522 ET [Dow Jones]--While President Trump was able to resist the stock market selloff it was only a matter of time before he folded on his high tariffs once the bond market began to weaken too, says Capital Economics' Paul Ashworth. Following Trump's social-media announcement of a pause and temporary reset on so-called reciprocal tariff rates on most countries, Ashworth says the working assumption is now that the president will repeatedly extend the pause and what stays in place is effectively the 10% tariff he campaigned on. In return, the economist expects minor concessions from countries on their own tariffs and trade practices. Still, he says that when it comes to China-U.S. relations, it is difficult to see either side backing down in the next few days but there is likely to be a full rollback of all additional tariffs applied since inauguration day. (robb.stewart@wsj.com)
(END) Dow Jones Newswires
April 09, 2025 15:23 ET (19:23 GMT)
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