China hits back with export controls, Canada and Mexico remain under threat. USPS closes then reopens "di minimis" small package loophole

President Donald Trump is facing pressure from U.S. hospitals and generic drugmakers to exempt medical goods from his new tariffs on Chinese imports, as they join big pharma lobbyists who have said such trade barriers will cause shortages of medicines and higher prices in the United States.

The bond market has already begun pricing in the potential for higher interest rates. Even the day after Trump’s election victory, rates spiked on higher inflation expectations. Yet this expectation conflicts with that of other investors who are expecting the Fed to cut rates this year.