The United States has once again utilized its tariff policy by imposing tariffs on Canada, Mexico, and the Chinese mainland. Ostensibly, these tariffs aim to benefit Washington by reducing its trade deficit with these countries and increasing fiscal revenue. Alternatively, they may serve as a bargaining chip in ongoing negotiations.
However, in the long run, such measures can create tensions in the global market and disrupt supply chains, effectively acting like a time bomb. The resulting trade war leaves no clear winners, as economic strain is felt across multiple sectors and nations involved.
Reference(s):
cgtn.com
