Trump Vows Tariffs on Iran's Trade Partners, Yen Falls to Two-Year Low | The Opening Trade 1/13/2026
Tamara Ceaikovski
US President Donald Trump’s announcement of new tariffs on goods from countries trading with Iran risks derailing his one-year trade truce with China, the world’s top buyer of Iranian oil. Much of the action was in Japan, where stocks jumped and government bond yields surged on speculation that Prime Minister Sanae Takaichi might call a snap election. The yen dropped to its weakest level against the dollar since July 2024. Defense and nuclear stocks rose in the so-called “Takaichi trade,” which
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