Trump’s protectionism consequences are complex, destabilising
ANALYSIS: Moses’ declaration of moral principles aimed at bringing humanity closer together, while Trump’s declaration of global tariffs underscores a growing fragmentation in international relations.
Although reminiscent of Moses atop Mount Sinai presenting the Ten Commandments, Trump’s declaration showed very different intent
What’s at stake: The tariff move, described by Trump as a declaration of economic independence, will reshape global trade dynamics and carry profound implications for the US economy and economies worldwide, including New Zealand.
Background: On April 2, Trump announced what he called ‘Liberation Day’, a sweeping tariff policy that imposes a baseline 10% levy on imports from all trading partners, with significantly higher rates for countries deemed to have unfair trade practices (eg, 34% on goods from China, 20% on goods from the EU, and 46% on goods from Japan).
Main players: US President Donald Trump, US government, the global economy.
US President Donald Trump’s rhetoric in the Rose Garden on April 2 was characteristically combative, accusing “friend and foe alike” of having “looted, pillaged, raped, and plundered” the United States through trade imbalances that he claims have undermined American industry for decades.
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What’s at stake: The tariff move, described by Trump as a declaration of economic independence, will reshape global trade dynamics and carry profound implications for the US economy and economies worldwide, including New Zealand.
Background: On April 2, Trump announced what he called ‘Liberation Day’, a sweeping tariff policy that imposes a baseline 10% levy on imports from all trading partners, with significantly higher rates for countries deemed to have unfair trade practices (eg, 34% on goods from China, 20% on goods from the EU, and 46% on goods from Japan).
Main players: US President Donald Trump, US government, the global economy.
