US President Donald Trump has been tearing the rules manual for trade that has been in place for more than 50 years, the British BBC notes in an analysis signed by Natalie Sherman. His last round of sweeping duties, which came into force shortly after midnight on Wednesday, is affecting products from some of America’s largest commercial partners, including China and the European Union, with dramatic increases in import duties. The president and his allies say that measures are essential for the restoration of America’s manufacturing base, which they consider necessary for national security. But it remains a potentially seismic energy, affecting imports of more than $ 2 billion worth, which will push the overall actual duties in the US to the highest level for more than a century. In the US, basic consumer goods could see huge price increases, including an estimated 33% for clothing, and analysts warn […]
Source: News Beast
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