The recent near-collapse of the $29 trillion US government debt market has raised concerns about the stability of both the American and global financial systems, threatening the safe-haven status of dollar assets. In a dramatic turn, the US president, who had boasted of global admiration, found himself in a precarious position similar to that of former British Prime Minister Liz Truss, as market pressures forced him to pause previously announced tariffs for 90 days, ultimately lowering them to 10%, except for those on China. This situation prompts a reevaluation of the global trade order absent US influence.
