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15h ago

U.S. Trade Court Halts Trump Tariffs as 30-Year Treasury Yield Rises Above 5%

Investor worries about rising fiscal deficits and worsening U.S.-China relations are pushing bond yields up, strengthening the dollar.

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Overview

  • The U.S. Court of International Trade ruled President Trump exceeded his authority by imposing universal 10% and reciprocal tariffs, citing Congress’s exclusive power over trade.
  • Sector-specific duties on products such as steel and autos remain intact despite the broader tariff reversal.
  • The administration has appealed the decision to the U.S. Court of Appeals for the Federal Circuit
  • Treasury yields spiked immediately after the ruling, with the 30-year rate climbing above 5% and the 10-year jumping to about 4.54%, while the Dollar Index rose to 100.
  • Market sentiment reflects deepening concerns over U.S. fiscal health and escalating U.S.-China tensions, leaving gold and bitcoin in a holding pattern as investors await the next major move.