The Impact of US Tariffs on Global Trade Policy
US President Trump's tariffs are reshaping US trade policy and overhauling decades of free-trade agreements with friend and foe alike. However, the pause in tariffs on goods and services compliant with the USMCA until April 2 may provide temporary relief for affected industries. Despite this, the ongoing trade tensions between the US and its trading partners continue to pose significant challenges for global economic stability.
- The escalating trade war could lead to a rise in protectionism, potentially harming small businesses and consumers who rely on international trade.
- What will be the long-term effects of the US tariffs on the global economy, particularly in terms of inflation and interest rates?