Geoffrey Gertz and Emily Kilcrease
U.S. President Donald Trump jolted the global economy this past weekend when he announced sweeping tariffs on Canada, China, and Mexico, the United States’ three largest trading partners. Although most of these levies were ultimately delayed after a frantic few days of negotiations, Trump’s actions confirmed what his campaign rhetoric had led observers to believe: that tariffs, whether implemented or threatened, will be central to his foreign policy. The moves sparked outcry from industry leaders and economists, who cited the risks of crippled supply chains and higher prices for American consumers and companies. It was a strategic misstep
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