The NatureSweet production facility in Bonita, Arizona in April.
Photographer: Anna Watts/The Washington Post/Getty Images
Trump’s Tariffs Are Already Stunting World Growth While Markets Shrug
With the president’s new trade deals, US protectionism is slowing investment and rewiring supply chains at the expense of the global economy
As Donald Trump barrels toward his latest tariff deadline, the damage to the global economy from American protectionism is becoming increasingly evident, even if financial markets seem to have decided they can live with it.
The US president has announced preliminary agreements with the European Union, Japan and a handful of others that raise tariff rates, and he’s promising to impose even higher duties on Aug. 1 for countries that haven’t cut deals. It all amounts to another step change in the trade barrier that Trump has erected around America, which is starting to reshape trade and investment patterns worldwide.