Tariffs and trade wars

The world today is approaching what has been termed as global economic chaos.

- 

Geopolitics is usually affected by wars, economic depressions or global pandemics. This imminent global chaos is the virtual result of one man's actions — President Donald Trump. His imposition of severe tariffs on countries, friends and foes, has been the major cause. This has been worsened by the inconsistency of even his most severe trade policies. This imposition of tariffs has been inconsistent and has caused a virtual roller coaster in the world economy. Stock markets all over the world have literally been experiencing severe drops and inflation and recession have become generally accepted as the next economic disruptions that will happen worldwide.

It is the inconsistency and the extremely high rates and the suddenness of Trump's tariff wars which are causing confusion in the global economy. Tariffs are taxes or duties imposed by a government for goods and services that are imported or, in some cases, exported. This is not a new concept because the history of tariffs stretches back thousands of years.