When examining the on-again, off-again tariff proclamations of United States President Donald Trump during his second term in office, it is unclear what has actually been achieved.
What is clear is that Trump’s tariff announcements have roiled global markets, wiping out trillions in value, and leaving many businesses stumped on how to plan for the future amid the never-ending uncertainty.
Within days of being sworn into office for his second term, Trump imposed 25-percent tariffs on Mexican and most Canadian imports and 10 percent on China, arguing they needed to do more to stem the flow of fentanyl and undocumented migrants into the US. He soon suspended those on Canada and Mexico for 30 days – but not on China – in return for concessions on border and law enforcement.
Since then, he has raised 25-percent tariffs on steel, aluminium, and auto and auto parts, and brought back levies on …