U.S. and Japanese stock indexes are at all-time highs as the world adapts to President Trump's trade policy, tariffs bring in billions in revenue while not yet causing renewed inflation, and markets price in a 92% chance that the Fed cut rates by 25 basis points in September.On Monday, President Trump signed an executive order extending the tariff truce between the US and China for another 90 days, pushing trade negotiations out to the fall. Average US tariff rates on Chinese goods are currently at about 55%, according to Bloomberg.
Last week, Trump's unveiled "reciprocal" tariffs on dozens of US trade partners.
The next negotiations to watch are Canada, Mexico, and China in the coming months.
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