The writer is president of Queens’ College, Cambridge, and an adviser to Allianz and Gramercy
The image of business leaders, governments and investors having to drink out of a US policy fire hose has gained added complexity in the past week as President Donald Trump announced a sudden pause on high “reciprocal” tariffs that had been repeatedly characterised as permanent.
The result whipsawed financial markets and upended Wall Street’s short- and longer-term economic forecasts. To make sense of all this, let me suggest four takeaways, from the certain to the less known.
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