With Trump’s Tariffs, the Chasm Between Allies and the U.S. Widens
President Trump announced sweeping levies on countries across the world. Washington’s partners have been bracing for the fallout.
President Trump announced sweeping levies on countries across the world. Washington’s partners have been bracing for the fallout.
Critics warned that the levies could fuel inflation and slow economic growth, while those who supported the move said it was long overdue.
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The 34 percent tariff announced on Wednesday is in addition to two rounds of import taxes the president already imposed since January.
The answer appears to begin with the total trade deficit America runs with its trading partners.
Two dozen trade experts gathered recently to simulate how a global trade war would play out. The results were surprisingly optimistic.
Trump’s supporters have clashed over the true goal of forthcoming global tariffs: raising revenue, or lowering foreign trade barriers?