In a show of force, President Trump pressured allies, including Mexico, Canada, and Colombia, to concede to stricter border measures in exchange for avoiding substantial tariffs. However, these concessions, especially those from Mexico and Canada, are viewed by experts like Marco Buti as largely symbolic and ineffective in curbing illegal migration or drug trafficking. The broader economic ramifications of such tariffs could lead to increased consumer prices and global economic instability, raising concerns about long-term growth and prosperity.
Barely two weeks after Donald Trump returned to the White House, four allies of the United States have caved into the US president's coercive trade strategy after being threatened with tariffs and other punitive measures.
Italian economist Marco Buti thinks Trump's tariff strategy is being rolled out erratically and has provoked only a limited response from allies.
The economic impact on Trump's target countries as well as the US from the proposed tariffs has been well documented.
[Trump's tariffs] are creating economic uncertainty globally and that is going to be very damaging from the point of view of growth and prosperity.
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