Trump’s trade policies have been wildly unpredictable in the first two months of his second presidency. Tariff deadlines have come and been delayed with no rhyme or reason, leaving cross-border trade in the lurch.

Such volatility was a nightmare for investors in the top one percent, but they are now given some clarity thanks to the inauguration of Trump’s so-called “Liberation Day” — a comprehensive set of retaliatory tariffs imposed on all imported products from trading partners who allegedly disadvantage US exports through their own regulatory regime.

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