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How Trump’s tariffs are changing the rules of global trade

The Take

2025/04/07
The Take

The Take

2025/04/07
A new wave of tariffs launched by former President Donald Trump has sent shockwaves through the global trading system, challenging long-standing economic alliances and prompting urgent responses worldwide. This move marks a dramatic departure from decades of free trade policy, raising fundamental questions about who stands to lose the most in an escalating trade conflict.
Trump’s sweeping tariffs—up to 49% on certain countries—are framed as a strategy to reduce trade deficits and bring manufacturing back to the U.S., but they come at a steep cost. Consumers face higher prices, with low-income households hit hardest, while global supply chains once shifted from China to Southeast Asia now face new disruptions. Countries like Vietnam and Malaysia are caught in the crossfire, and retaliatory measures from China deepen economic tensions. Meanwhile, traditional U.S. allies such as Japan, South Korea, and China are finding common ground, signaling a geopolitical realignment. Critics warn the trade war could trigger inflation, harm developing economies, and even push the U.S. into recession. At a time when global cooperation is crucial for overcoming shared challenges like climate change and technological transformation, the turn toward protectionism risks isolating the U.S. and undermining collective progress. Yet, some see potential for reform—a chance to build fairer, more resilient trade systems in the aftermath.
06:07
06:07
Tariffs are regressive—past trade policy focused on lowering barriers to reduce prices and drive innovation.
15:30
15:30
Most Asian countries except China want to negotiate with the Trump administration.
15:35
15:35
U.S. trade war is a self-inflicted wound that pushes allies toward China
18:42
18:42
Trade war causes self-inflicted economic harm during global crises