SO BEGINS Donald Trump’s tariff roller-coaster, certain to be a stomach-churning trip for the worldwide financial system. He began his first day in workplace with an sudden present of restraint: relatively than slapping hefty new tariffs on different nations, he as a substitute issued a presidential memorandum calling for a overview of unfair commerce practices. It gave the impression to be a measured begin for Mr Trump—not less than on the protectionist entrance, if not his wider programme—prompting aid in authorities places of work and on buying and selling flooring all over the world. Foreign exchange and shares rallied.
