{"id":272550,"date":"2025-04-02T22:07:26","date_gmt":"2025-04-02T22:07:26","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2025\/04\/02\/donald-trumps-tariffs-will-have-consequences-for-globalisation-the-us-economy-and-geopolitics\/"},"modified":"2025-04-02T22:07:26","modified_gmt":"2025-04-02T22:07:26","slug":"donald-trumps-tariffs-will-have-consequences-for-globalisation-the-us-economy-and-geopolitics","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2025\/04\/02\/donald-trumps-tariffs-will-have-consequences-for-globalisation-the-us-economy-and-geopolitics\/","title":{"rendered":"Donald Trump’s tariffs will have consequences for globalisation, the US economy and geopolitics"},"content":{"rendered":"
\"Donald<\/div>


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For decades, trade and trade policy has been an economic and political backwater – decidedly boring, seemingly uncontroversial.\u00a0<\/p>\n

Trade was mostly free and getting freer, tariffs were getting lower and lower, and the world was becoming more, not less, globalised.<\/p>\n

But alongside those long-term trends, there were some serious consequences.<\/p>\n

Trump latest: US president announces sweeping global trade tariffs<\/a><\/strong><\/p>\n

Mature, developed economies like the UK and US became ever more reliant on cheap imports from China and, in the process, saw their manufacturing sectors shrink.<\/p>\n

Large swathes of the rust belt in the US – and much of the Midlands and North of England – were hollowed out.<\/p>\n

And to some extent that’s where the story of Donald Trump’s<\/strong><\/a> “Liberation Day” really began – with the notion that free trade and globalisation had a darker side, a side he wants to remedy via tariffs.<\/p>\n

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<\/a><\/p>\n

He imposed a set of tariffs in his first term, some on China<\/strong><\/a>, some on specific materials like steel and aluminium. But the height and the breadth of those tariffs were as nothing compared with the ones we have just heard about.<\/p>\n

Not since the 1930s has the US so radically increased the level of tariffs on all nations across the world. Back then, those tariffs exacerbated the Great Depression.<\/p>\n

It’s anyone’s guess as to what the consequences of these ones will be. But there will be consequences.<\/p>\n

Consequences for the nature of globalisation, consequences for the US economy (tariffs are exceptionally inflationary), consequences for geopolitics.<\/p>\n

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\n Image:<\/span>
\n Imports from the UK will face a 10% tariff, while EU goods will see 20% rates. Pic: Reuters
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\n <\/figcaption><\/figure>\n<\/div>\n

And to some extent, merely knowing that little bit more about the White House’s plans will deliver a bit of relief to financial markets, which have fretted for months about the imposition of tariffs. That uncertainty recently reached unprecedented levels.<\/p>\n

But don’t for a moment assume that this saga is over. Nothing of the sort. In the coming days, we will learn more – more about the nuts and bolts of these policies, more about the retaliatory measures coming from other countries.<\/p>\n

We will, possibly, get more of a sense about whether some countries – including the UK – will enjoy reprieves from the tariffs.<\/p>\n

To paraphrase Churchill, this isn’t the end of the trade war, or even the beginning of the end – perhaps just the end of the beginning.<\/p>\n<\/p><\/div>\n


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Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

For decades, trade and trade policy has been an economic and political backwater – decidedly boring, seemingly uncontroversial.\u00a0 Trade was mostly free and getting freer, tariffs were getting lower and lower, and the world was becoming more, not less, globalised. But alongside those long-term trends, there were some serious consequences. Trump latest: US president announces […]<\/p>\n","protected":false},"author":2,"featured_media":272551,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"https:\/\/e3.365dm.com\/25\/04\/768x432\/skynews-donald-trump-tariffs_6874319.jpg?20250402214330","fifu_image_alt":"","footnotes":""},"categories":[603],"tags":[14476,51,1933,11246,35358,18165,1734],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/272550"}],"collection":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/comments?post=272550"}],"version-history":[{"count":1,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/272550\/revisions"}],"predecessor-version":[{"id":272552,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/272550\/revisions\/272552"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media\/272551"}],"wp:attachment":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media?parent=272550"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/categories?post=272550"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/tags?post=272550"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}