The United States has once again weaponized its tariff policy by imposing tariffs on Canada, Mexico, and the Chinese mainland. While these measures aim to reduce the US trade deficit with these nations and increase fiscal revenue, they also serve as a strategic bargaining chip in international negotiations.
However, the long-term implications of these tariffs could be detrimental. By creating tensions in the global market and disrupting established supply chains, the US risks setting off a time bomb that could have far-reaching consequences for the global economy.
In the complex web of international trade, trade wars rarely have clear winners. Instead, they often lead to increased costs for businesses and consumers alike, while undermining the cooperative frameworks that support sustainable economic growth.
Reference(s):
cgtn.com
