The End Of Globalisation?

Yesterday, President Donald Trump announced broad “reciprocal” tariffs on imports from US trading partners across the world. The US will impose a minimum 10% tariff on all trading partners and slap even higher rates on about 60 countries that hold large trade surpluses with the US. For example, the reciprocal rate on imports from China will be 34%; from the European Union, 20%; and from Vietnam, 46%. According to a White House fact sheet, the global 10% tariff will go into effect on April 5 and then will be replaced by the individualized higher tariffs on April 9. Australia is […]