President Trump has announced new tariffs:
- 25% on all Canadian imports, closing the loophole on imports valued at less than $800, with a lower 10% rate for energy, i.e., oil & gas
- 25% on all Mexican imports
- 10% on all Chinese imports, on top of the targeted tariffs Trump introduced in his first term (and which President Biden first retained and then expanded)
These tariffs are much larger than the tariffs Trump imposed during his first term. Those tariffs were targeted – they affected specific industries Trump was hoping to reshore. This is a broad-spectrum approach. It’s a strategy you use to force another state to make concessions in other policy areas. What is Trump trying to do? And will he succeed?
Benjamin Studebaker 