It’s not over: Donald Trump could still blow up global trade
Ideology, complacent markets and a need for revenue may still lead to big tariffs
IF DEALMAKING MEANS threatening catastrophe in order to win small gains, then Donald Trump is the master of the art. Having threatened Canada and Mexico with 25% tariffs which would have imperilled the carmaking that criss-crosses North America’s borders, he granted them both a 30-day reprieve on February 3rd. In return, he got a modest boost to their help securing America’s frontiers, including from 10,000 extra Mexican troops, plus the reiteration of some old promises.
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Leaders February 8th 2025
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