Source: Antiwar.com
by Dan Steinbock
“By trying to weaponize the U.S. tariffs on America’s big trade partners against China, President Trump is basing bad economics on worse geopolitics. It could prove a costly prelude to a global downturn. On February 1, President Trump imposed 25% tariffs and 10% duties on energy products on Canada and Mexico, and 10% tariffs on China. The three countries are America’s greatest trade partners and the United States has a trade deficit with each. The Trump tariffs could cause Canada’s GDP could fall as much as 3%, while Mexico’s could suffer a 2% drop, by some estimates. A trade war between the U.S. and its two largest trading partners would also hit U.S. income, hurt employment and increase inflation.” (02/12/25)
https://original.antiwar.com/dan_steinbock/2025/02/11/trumps-sphere-of-influence-tariffs/