Fox Business Network's Charlie Gasparino discussed the failure of President Trump's tariff strategy on Fox News. He emphasized that attempting to manipulate trade and the economy in the way Trump did was unrealistic. The bond market reacted negatively, with yields spiking, creating a risk to the financial system. After a temporary trade truce with China, Gasparino noted that Trump's tariff increases prompted a backlash from the bond market, which is essential for financing operations, leading to the president's retreat from his aggressive trade stance.
Charlie Gasparino: "You can't do what they try to do with the U.S. economy on trade... If you do that, you will get a bond market rebellion."
"If the bond market shuts down, your paycheck doesn't come to you because your business needs the short-term bond market to basically float bonds to get your money."
"Every major bond investor was telling me this is insane... If that starts gapping out to 4.5, we're in deep trouble."
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