2025-04-14
8 分钟The Economist. Welcome to Editor's Picks.
I'm Charlotte Howard.
I'm the co-host of our American podcast, Checks and Balance.
You are about to hear an article we have chosen from the most recent edition of The Economist.
Thanks for tuning in.
The Euphoria When, on April 9,
President Donald Trump postponed for 90 days the most illogical and destructive of his tariffs,
after a meltdown in financial markets, the S&P 500 index of American stocks rose by 9.5%,
its fastest daily rise in nearly 17 years.
The darkest scenarios for the world economy that had been envisaged by investors until that moment are now unlikely.
It seems there is some limit to the market falls the President will tolerate on his watch.
After the chaos that had followed Mr Trump's announcement of reciprocal tariffs a week earlier,
that is no small source of comfort for the world.
But do not mistake the consolation of having avoided disaster for good fortune.
The scale of the shock to global trade set off by Mr. Trump is still,
even now, unlike anything seen in history.
He has replaced the stable trading relations,
which America spent over half a century building,
with whimsical and arbitrary policymaking,
in which decisions are posted on social media,