U.S. still facing 1930s tariff shock, vice tightens around China, analysts say

With the dust now settled on the euphoric market rebound following U.S. President Donald Trump's trade war climb-down, investors are realizing that the global economy still faces the most punishing U.S. tariffs in nearly 100 years. The picture is marginally brighter than it was before Trump blinked at 1:18 p.m. Eastern Time on Wednesday and announced a 90-day hiatus and a reduction to 10% for most of his 'reciprocal’ tariffs. Washington is now pursuing negotiations with its trading partners and most retaliatory measures have been put on ice. But the big picture remains pretty dim. Analysis published by the non-partisan…