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Orissa POST
|April 07, 2025
On 26 March, President Donald Trump signed an executive order imposing a 25 per cent tariff on all cars and car-duty trucks imported into the United States. This measure took effect on 3 April — one day after the administration put out its “reciprocal tariffs” on 11 trading partners. Trump tried to reassure nervous Americans, promising that our automobile business will flourish like it’s never flourished before.
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It won’t. While Trump’s tariffs fly in the face of conventional economic wisdom — from Adam Smith and David Ricardo to John Maynard Keynes and Milton Friedman — his confidence may lead some to think there’s a hidden logic behind them.
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