Oaktree's Howard Marks warns the trade war risks the US's 'golden credit card'

Howard Marks, the cofounder of Oaktree Capital Management, wrote Trump's tariffs risk serious consequences, regardless of their intent.

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• Oaktree Capital cofounder Howard Marks warned Trump's tariffs could hurt the US.
• The US has relied on a "golden credit card" to run fiscal deficits for 25 years, Marks wrote.
• Trump's trade war pause led to a market rally, but concerns about US assets, including Treasurys, remain.

The US's...