Trade
Reciprocal tariffs ratchet up trade war
President Donald Trump’s decision to slap a 10 per cent tariff on most goods imported to the United States, as well as higher duties on dozens of countries from rivals to allies, has intensified a global trade war that threatens to stoke inflation and stall growth. The sweeping duties announced against the serene backdrop of the White House Rose Garden immediately unleashed turbulence across world markets and drew condemnation from other leaders now faced with the end of decades of trade liberalisation that have shaped the global order.
