With Trump’s Tariffs, the Chasm Between Allies and the U.S. Widens
President Trump announced sweeping levies on countries across the world. The tariffs create a dilemma for longstanding friends — and an opportunity for foes.
President Trump announced sweeping levies on countries across the world. The tariffs create a dilemma for longstanding friends — and an opportunity for foes.
In spite of a prolonged charm offensive by Prime Minister Keir Starmer, President Trump said that Britain would be hit with the universal base rate levied on all countries.
The president says “jobs and factories will come roaring back” because of his trade policies, but the
Japan has refrained from talk of striking back at U.S. tariffs. Trade experts say that is because its inflation-strained economy limits its options.
Critics warned that the levies could fuel inflation and slow economic growth, while those who supported the move said it was long overdue.
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?
Treasury Secretary Scott Bessent argues that the American dream is about more than cheap televisions, but inflation-weary consumers might disagree.