Welcome to the new order. The US government’s introduction of tariffs on Mexico, Canada, and China imports has sent shockwaves through global supply chains and, according to President Trump, this is just the start, with Europe firmly in his sights next.
So why is the US President sticking so vehemently to a divisive policy that may inflict as much damage as spur growth?
The federal government’s position is that high tariffs can lower trade deficits by encouraging domestic production and reducing reliance on foreign goods, thereby incentivizing domestic investment and providing better leverage in trade negotiations.
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