Donald Trump's administration is focusing on a trade strategy that includes imposing significant tariffs on imports to revive the US economy. The president believes these tariffs will protect American workers and reduce dependence on foreign producers. However, economists warn that this aggressive approach could harm the US GDP and lead to job losses. The administration faces challenges in its relationships with key trading partners like Canada and Mexico, and concerns are rising over the impact on the global trading system as the country seeks to overhaul its trade policies.
Trump has vowed to pull the trigger and impose an historic barrage of tariffs on goods from overseas he claims will fund an extraordinary revival.
The escalating tariffs are a body blow to the global trading system, said Eswar Prasad, professor of trade policy at Cornell University.
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