View: U.S. latest list of exemptions proves once again that bond markets are forcing Trump to make concessions

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On April 12, according to The Kobeissi Letter analysis, the United States imports more than $60 billion in smartphones each year. The exemption policy announced today covers some of the most important imported products, another sign of the U.S. concessions in the trade war. After all, the bond market is forcing Trump to make concessions.

This week, everyone has learned about specific ways to put pressure on the United States in the trade war: selling U.S. Treasury bonds and pushing up Treasury yields. The bond market is Trump’s priority and everyone knows that now.

Earlier today, the United States announced that it would be subject to conditional exemption of "peer-to-peer tariffs" on mobile phones/PCs/servers/semiconductors and other products.

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