Wall Street analysts anguish over ‘Liberation Day’

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Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.

“Liberation Day” has quickly turned into Libation Day for many Wall Street analysts, who are being forced to take Donald Trump both seriously and literally.

The tariffs announced went far further than anyone had expected. As JPMorgan’s Michael Feroli points out, a static calculation implies that these tariffs would raise almost $400bn in taxes, relative to GDP…