Tariff Gamble

US President Donald Trump has once again turned to tariffs as a tool to reshape global trade.

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The latest round of levies introduces a 10 per cent baseline tariff on all imports while imposing higher duties on select countries. China faces a 54 per cent tariff, Vietnam 46 per cent, and the European Union 20 per cent. India, with its growing US trade ties, faces a 26 per cent tariff, potentially disrupting a relationship that has flourished in recent years.

Are these tariffs a necessary correction to unfair trade practices, or do they risk triggering economic turmoil? Proponents argue these revisions are overdue. The US has long faced barriers in foreign markets, where American goods encounter high tariffs and regulatory hurdles. The new measures could level the playing field, forcing trading partners to reconsider protectionist policies. The EU, for example, imposes significant duties on American agricultural and industrial goods. Rather than retaliate, it could lower its own tariffs to foster fairer trade.