Crazy Trump pushes up $POG31 May 2019 15:00
Commenting on Trump's decision to impose a 5% tariff on all goods from Mexico in response to a "surge" in immigration, analysts criticised both the fact that it was a proverbial 'bolt out of the blue' and the fact that it came right after the two countries had reached an agreement on a new trade pact.
Mexico was America's second largest trading partner and the White House said the tariffs were set to rise gradually until October, when they would reach 25% in the absence of an improvement in immigrant flows on their common border.
For his part, Michael Hewson at CMC Markets UK said: "It also makes it much more difficult for countries to take the US at its word when it comes to trade negotiations if its President can so easily lob a hand grenade into the path of an already agreed deal."