Trump’s new tariffs, stock market intervention, mega IPOs

INTELLIGENCE SUMMARY

The US imposed tariffs as high as 12.5 per cent on 60 trading partners, including China, after President Donald Trump adopted a different method for pursuing his global trade war. The levies, which are related to forced labour, replaced a temporary 10 per cent global tariff that expired on Friday. The 10 per cent tax was imposed after previous Trump tariffs were struck down by the US Supreme Court. Trump’s new taxes, targeting imports from 80-plus countries, can probably withstand legal...