'Tariffs are falling more quickly than Wall Street expected'

 Yahoo Finance's Josh Schafer writes that the US effective tariff rate has moved lower over the past month amid a stock market rally. At 14.4%, the effective US tariff rate is nearly back to its pre-"Liberation Day" level, as our Chart of the Week shows:

But in markets, the news isn't just about what's said. It's also about how what was said matches investor expectations. On April 2, tariffs negatively surprised as Trump's announcements were, as we wrote at the time, "worse than expected."

Well, the latest round of tariff announcements brought up a counter phrase: "Better than feared."

https://finance.yahoo.com/news/live/tariffs-live-updates-trump-urges-walmart-to-eat-the-tariffs-and-wants-fed-to-cut-rates-sooner-than-later-191201934.html