US Tariffs: Are Trump's Claims Legitimate?
The average external tariff rate of the US is lower than many of its trading partners, but it can be argued that some countries impose higher tariffs on American goods compared to their own imports from the US. This disparity has led President Trump to suggest introducing "reciprocal tariffs" in response. The impact of such tariffs on American consumers and the broader trade balance remains unclear.
- The introduction of reciprocal tariffs by the US would likely break WTO rules, raising questions about its legitimacy under international trade agreements.
- How would a shift towards protectionism and increased tariffs affect global supply chains and the long-term competitiveness of American businesses?