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Why Trump’s Tariffs Won’t Fix Global Trade: Conversations With Kimberly Clausing and Michael Pettis
Donald Trump’s embrace of tariffs should come as no surprise. For decades, he has claimed that other countries are ripping Americans off—and promised to use tariffs to remake a global trade system that, in his view, has been deeply unfair to the United States. But almost no one anticipated a trade and tariff policy as extreme and erratic as the one the world has seen since Trump proclaimed “Liberation Day” at the beginning of April.
The sweeping tariffs on U.S. partners and rivals alike unleashed panic in the financial markets and in capitals across the world. Even a pause and negotiations on…
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