President Trump's impending tariffs are stirring anxiety among global economies as he introduces them as a multifaceted political tool. Tariffs are not only seen as a way to negotiate with countries like Canada and Mexico but also viewed as potential revenue to support extensive tax cuts while safeguarding American manufacturing jobs. Financial Times columnist Rana Foroohar describes these tariffs as an 'experiment,' suggesting that their broad implementation could fundamentally alter the global economic landscape.
In President Donald Trump's telling, tariffs are the political equivalent of duct tape: you can use them to fix anything.
For example, he's used the threat of tariffs to pressure Canada and Mexico to implement border policies he liked.
Tariffs are a revenue source that might help offset proposed tax cuts and protect American manufacturing jobs from overseas competition.
Rana Foroohar sees tariffs as an 'experiment' that could lead to a big change in how the global economy operates.
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