President Trump has directed his advisers to devise new reciprocal tariffs aimed at nearly all countries, particularly India, Japan, and the EU, with potential implementation after April 2. These tariffs, criticized for possibly initiating a trade war, would be formulated based on a country's existing tariffs on U.S. imports. Trump seeks to incentivize domestic manufacturing by eliminating tariffs for U.S.-based production. As he meets with India’s Prime Minister Modi, tensions over differing immigration policies and tariffs on imports complicate relations between the U.S. and its trading partners.
These tariff proposals amount to a declaration of an all-out trade war against practically all major U.S. trading partners.
It is stunning and disappointing to see the country that had been the leading proponent of free trade now engaged in a direct assault on the rules and principles underlying that system.
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