It included steep duties on imports from many trading partners, including 34% on Chinese goods, 20% on the EU and 46% on Vietnam. The ensuing sell-off gripped various asset classes across the globe — but U.S. equities, Treasurys and the dollar all took a major hit in what would become the “Sell America” trade.
fredag 3. april 2026
One year on from Trump’s ‘liberation day,’ global investors are rethinking American exceptionalism
A year ago, on April 2, 2025, U.S. President Donald Trump appeared in the White House Rose Garden with an announcement that would become one of the defining policies of his second term. The president unveiled a vast list of country-specific tariffs in what he dubbed his “liberation day” trade policies — a move that sparked panic and volatility in markets across the globe.
It included steep duties on imports from many trading partners, including 34% on Chinese goods, 20% on the EU and 46% on Vietnam. The ensuing sell-off gripped various asset classes across the globe — but U.S. equities, Treasurys and the dollar all took a major hit in what would become the “Sell America” trade.
It included steep duties on imports from many trading partners, including 34% on Chinese goods, 20% on the EU and 46% on Vietnam. The ensuing sell-off gripped various asset classes across the globe — but U.S. equities, Treasurys and the dollar all took a major hit in what would become the “Sell America” trade.