Free Republic

President Trump unveiled his new “liberation day” tariffs on Wednesday, and they are another large step toward a new old era of trade protectionism. Assuming the policy sticks—and we hope it doesn’t—the effort amounts to an attempt to remake the U.S. economy and the world trading system. All details aren’t clear as we write this, but Mr. Trump’s tariffs look “reciprocal” in name only. First he’s hitting every nation in the world with a 10% “baseline” tariff to sell in the U.S. market. For those he calls “bad actors,” he’s adding up the country’s tariff rate on U.S. goods, plus...

Donald Trump's politics have shifted considerably over his decades in the public sphere. But one thing he has been consistent on, since the 1980s, is his belief that tariffs are an effective means of boosting the US economy. Now, he's staking his presidency on his being right. At his Rose Garden event at the White House, surrounded by friends, conservative politicians and cabinet secretaries, Trump announced sweeping new tariffs on a broad range of countries – allies, competitors and adversaries alike. In a speech that was equal parts celebration and self-congratulation, regularly punctuated by applause from the crowd, the president...

Trump's reciprocal tariffs aim to address what the Trump administration views as persistent and unfair trade imbalances, targeting specifically the 'Dirty 15,' a group of nations including China, Canada, Mexico, Japan, Germany, and India, among others. Countries such as Canada and Mexico have already voiced their readiness to counteract, while India, Japan, and China seek diplomatic routes to soften the blow and protect their economic interests.