In 2018, US President Donald Trump finally turned his protectionist words into action by imposing sweeping tariffs on imports from allies and adversaries alike. But while Trump’s use of tariffs to protect domestic industry is not new, his attacks on the larger trading system certainly are.
WASHINGTON, DC – The year 2018 marked the return of the import tariff. As of October, the United States had imposed levies on roughly 12,000 products, accounting for 12.6% of its total imports; its main trading partners had retaliated with tariffs on 2,087 products, accounting for 6.2% of US exports. With trade tensions mounting, many observers have warned of a full-scale trade war, or even the collapse of the global trading system.
WASHINGTON, DC – The year 2018 marked the return of the import tariff. As of October, the United States had imposed levies on roughly 12,000 products, accounting for 12.6% of its total imports; its main trading partners had retaliated with tariffs on 2,087 products, accounting for 6.2% of US exports. With trade tensions mounting, many observers have warned of a full-scale trade war, or even the collapse of the global trading system.