A Scatter Gun Approach
The Trump tariff shock is going to take a bit of time to sink in, though stock markets worldwide have already sunk. Altogether, 60 countries have been slapped with at least 10 percent tariffs; those with large trade surpluses with the U.S. will pay a much higher rate. Trump’s public argument was two-fold: force U.S. trade partners with the highest surpluses to lower their tariff s on U.S. imports, and encourage U.S. and other multinational firms to move their manufacturing to the U.S.
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