Three months on from ‘Liberation Day’, Donald Trump’s trade war is punishing US businesses

Farmer John Ashe’s dealt with drought. He’s dealt with hurricanes. But what he saw the US president announce on TV left him speechless. “I just shook my head. My wife was shaking her head, and I was thinking, what’s next?” he says. Almost 90 days ago, Donald Trump shocked the world when he announced his so-called reciprocal tariffs on more than 180 countries and territories. Designed to punish foreign nations who ran trade deficits with the US, the tariffs have instead put much of Trump’s heartland in the crosshairs. In Austin, Texas, toy manufacturer Molson Hart, watched as President Trump…