this post was submitted on 09 Apr 2025
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Politics

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The US does not normally see high interest rates on its debt as its bonds are viewed as a safe investment, but on Wednesday rates spiked sharply to touch 4.5%.

The rise came after Trump pressed ahead with sweeping tariffs on goods being imported into the US, while Washington's trade war with China escalated further.

After the US implemented a 104% tariff on products from China at midnight on Wednesday, Beijing hit back with 84% levy on American products.

Stock markets have been falling sharply over the past few days in reaction to the escalating global trade war and fears of tariffs leading to higher prices.

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