A New Tax on Imports and a Split From China: Trump’s 2025 Trade Agenda

News Snapshot:

“The last time Trump abusively imposed tariffs on our allies — then for concocted national security reasons — a number of key trading partners, like Japan and South Korea, refrained from retaliating against U.S. exports thinking he would soon come to his senses,” Mr. Price said. “This time they will not indulge that fantasy.” Evaluating the merits of Mr. Trump’s trade vision is complex because there could be multiple ripple effects, and he is seeking long-term changes. But many economic studies concluded that the tariffs he imposed as president cost American society more than the benefits they produced. Research from...