LESS THAN two weeks into his new administration, Donald Trump has positioned massive tariffs on America’s three largest buying and selling companions—elevating the spectre of a worldwide commerce struggle. With government orders signed on February 1st, he initiated tariffs of 25% on imports from each Canada and Mexico, and added levies of 10% to imports from China. Though Mr Trump had vowed to just do this, his actions will nonetheless signify a shock to the worldwide financial system. They’ll drive up costs, weigh on development and sow uncertainty for companies. Furthermore, they’re more likely to be simply the primary salvo for Mr Trump, who’s itching to implement tariffs which can be each extra aggressive and extra international.
