Tariffs and the Erosion of Trust

It often begins with bold declarations - “We must protect our industries,” they say. “Our workers deserve better.”

The public nods along. Tariffs, once again, are wielded as a political tool, dressed in the noble language of national interest and economic revival. But as always, beneath the surface of this populist packaging lies a complex ripple effect - one that is increasingly visible in the movement of government bond yields and the uneasy mood settling over financial markets.

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