Keith Johnson
U.S. President-elect Donald Trump has already waded into his future trade wars before taking office. His proposal of a steep import tax on all products from the country’s top trade partners gives a preview of exactly how his zero-sum approach to economics could quickly become zero-benefit for businesses and consumers.
Trump, who vowed during his campaign to slap tariffs on everything that moved, said on Nov. 25 that he would, on his first day in office, put a 25 percent duty on all imports from Canada and Mexico—the United States’ two biggest trade partners, all bound together by a trilateral, tariff-free trade deal that Trump himself wrote. For good measure, Trump also threatened a 10 percent tax on all imports from China. His demand was for those countries to take immediate steps to curtail U.S.-bound deliveries of drugs and migrants.
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