Trump's Trade War Threats Collide with Global Rate Hike Expectations

A fresh wave of trade anxiety is sweeping global markets as President Trump threatens to cut off trade with countries running deficits against the U.S. unless the Federal Reserve cuts rates—a demand that clashes sharply with a robust jobs report now making a September rate hike more likely.

Trade Routes

• United States: Trump threatens to halt trade with deficit nations if the Fed doesn’t lower rates, despite 162,000 jobs added in August—well above...