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US president’s erratic approach has fuelled a dizzying array of tariff measures, before pausing or changing them, prompting a chaotic series of responsesDonald Trump is sending shock waves through the global economy by waging trade wars with the US’s traditional allies and enemies alike.
The president is using tariffs – border taxes levied on imports – to tackle what he sees as “unfair” trading practices by US trading partners. The aim is to promote US manufacturing by making foreign imports more expensive; to raise revenue, and to use tariffs as a bargaining chip with trading partners.
However, economists warn that tariffs risk crashing economic growth and stoking inflation. Trump’s erratic approach – repeatedly announcing, pausing, and changing his policies – is also denting business confidence and rattling financial markets. The Peterson Institute for International Economics is keeping tabs on developments: Continue reading…
US president’s erratic approach has fuelled a dizzying array of tariff measures, before pausing or changing them, prompting a chaotic series of responses
Donald Trump is sending shock waves through the global economy by waging trade wars with the US’s traditional allies and enemies alike.
The president is using tariffs – border taxes levied on imports – to tackle what he sees as “unfair” trading practices by US trading partners. The aim is to promote US manufacturing by making foreign imports more expensive; to raise revenue, and to use tariffs as a bargaining chip with trading partners.
However, economists warn that tariffs risk crashing economic growth and stoking inflation. Trump’s erratic approach – repeatedly announcing, pausing, and changing his policies – is also denting business confidence and rattling financial markets. The Peterson Institute for International Economics is keeping tabs on developments:
