Tariff Tango: How Trump's Trade War Has Reshaped the Global Marketplace
A detailed look at the lasting impact of Trump's tariff policies, from altered trade flows to industrial shifts and consumer price changes worldwide.
It's been over a year since the Trump administration ramped up tariffs on a wide range of imported goods, sparking a trade war that has reverberated across the global economy. While the tariffs were aimed at reducing the US trade deficit and protecting domestic industries, the fallout has been far-reaching and, in many cases, unexpected.
To get a clearer picture of how the tariffs have changed the landscape, let's examine four key ways they've impacted the global economy:
1. Altered Trade Flows
One of the most visible effects has been a shift in trade patterns. As the US raised tariffs on Chinese goods, China retaliated with its own tariffs, causing a steep decline in bilateral trade. However, this has not necessarily resulted in more domestic production - instead, US companies have often turned to alternative suppliers in countries like Vietnam, Taiwan, and Mexico to avoid the tariffs.
Source: BBC News
