Bond investors count on Trump tariff revenues to rein in US debt
President’s levies now seen as a way to offset tax cuts and keep a lid on government borrowing
President’s levies now seen as a way to offset tax cuts and keep a lid on government borrowing

International investors’ stockpiles of US government debt fell slightly in April

Rating agency expects income from aggressive trade policy to offset tax and spending changes

US president’s latest ‘reciprocal’ levies hit many countries that had struck deals with Washington

Judicial limits on the executive today will bind the hands of future presidents tomorrow

US administration has other ways to hit trading partners with duties

President’s moves could erode central bank’s credibility and push up long-term inflation and rates, economists say