In one way, Donald Trump is like Republican predecessors – he believes in tax cuts. What is novel is the foreboding he creates about faith in America’s credit.
The only force that has so far been able to stop Donald Trump, or at least make him rethink, is the US Treasury market. Republicans are supine; Democrats are in disarray; chief executives have taken cover; and America’s foreign partners tiptoe around Trump like he’s a minefield.
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Financial Times
Edward Luce is the Washington columnist and commentator for the Financial Times. He writes about American politics and the economy.
