Source: Foundation for Economic Education
by Jake Scott
“The ongoing realignment of international trade flows in the midst of the escalating tariff wars between the United States and other nations and trading blocs (principally China and the European Union) continues to ripple across the world. Yet the changes we are witnessing are by no means caused by these tariff wars; instead, they are more the catalyst to spur on such changes, perhaps irreversibly. For instance, the sudden 50% tariff slapped on Indian jewelry exports to the US in the summer has been cast as a new trade shock. In reality, it is the culmination of pressures that have been building for years, and a turning point that is already reshaping global trade patterns. The outlines of this shift can be traced through the past six months, from early warnings to the contemporary strategic pivot towards the Middle East.” (10/01/25)