Trump’s ‘beautiful’ trade war will leave an ugly scar
The diplomatic cost of the US president’s tariffs will be enduring. Countries will look to do the serious deals with each other and bypass America in future.
US President Donald Trump once said that “tariff” was the most beautiful word. After the markets closed on Wednesday (Thursday AEDT), he declared “liberation day” in its honour.
To America’s trading partners, April 2 will mark the end of a global trading era. Trump has elevated tariffs to rates last seen after the passage of the infamous Smoot-Hawley Tariff Act in the Great Depression.
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Financial Times
Edward Luce is the Washington columnist and commentator for the Financial Times. He writes about American politics and the economy.
