It might seem like Trump is winning his trade war. But the US could soon be in a world of pain
LAST week, US President Donald Trump issued an executive order updating the “reciprocal” tariff rates that had been paused since April. Nearly all US trading partners are now staring down tariffs of between 10% and 50%. After a range of baseline and sector-specific tariffs came into effect earlier this year, many economists had predicted economic chaos. So far, the inflationary impact has been less than many predicted. However, there are worrying signs that could all soon change, as economic pain flows through to the US consumer. Decoding the deals Trump’s latest adjustments weren’t random acts of economic warfare. They revealed…
