US President Donald Trump’s decision to impose a range of reciprocal global trade tariffs is primarily designed to revitalise the American economy and increase the wealth of the American people. But one important side effect of his audacious move—apart from the global turmoil it has prompted in financial markets—could be that it increases Washington’s international isolation.
Dubbing his announcement “Liberation Day” for the American economy, Trump announced an unprecedented range of levies to be imposed on countries his administration believes have developed an unfair trading arrangement with the US.
From China to the European Union, no distinction was made between countries seen as rivals to America’s long-standing international dominance and those—such as major European allies such as the UK and France—that are supposed to be Washington’s close allies.
Making his announcement in the White House Rose Garden shortly after the US stock markets had closed for the day, Trump said that he had been planning to introduce his tariff plan since the 1980s, when he first became concerned at what he believed was the unfair disparity in trading ties between the US and the outside world.
“I’d be talking about how these countries were ripping us off,” said Trump. “I mean, nothing changes very much. The only thing to change was the countries, but nothing really changes.”
He denounced countries that he said had an unfair trade advantage with the US—including some of America’s closest allies—as “cheaters” and "scavengers".
“When you look a little bit, it’s not a pretty picture, and we don’t like it, and it’s not fair,” Trump said. “We’re really not taking it anymore.”
