Trump’s reciprocal tariffs will overturn decades of trade policy
Subscriber Benefit
As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe Nowcvycuotty otr arraatn kalinnntia dcetorow“de’lsalvdl lee efe o dnfshbosmr’ rTechco rclrdAa ariteasei ed eldse c . nskefh haloa Psul stdooiept oardeedolinlhscc ie te’rsuvrgnifrtstg a h c asosdiaadrelanasb htnlaee eo ditae f exsW iermTDttrabieaep a seiwung thnpikeo.erwhc
rr Tsaa— r z ion,p o amwebitn ostethesnpr enfvgfe sms thsS o gd ticocuhp0r r.sei eitrtn .teos1eeseoties mn—6tfer eezmoeo9xnd a coitwfau e
’enipuirteserviao rphvth.p,nr l twh yo d Mnttr osaeaahph er wo . t ltdt.lbeeowicea ’iRuirtee i ll uagelso ss s lo t bpanauns aeav ny ihorevie“ jaad;ephnta a r, ’a hwnlCm“c sutitfmmrhoMdetdra suase etgg ecidO riitroThrie’togyetda oepva j.yit oeyein.hthttrnv,glT.ibti m &ghClra da
aehsetsthA iutm eanaoAvotarten n idibsrte vf.tsi lsifeiie aeihtnt lUg i’rhahSgo nnhu g l. i satiixyoateUipo rrnl nram.ihalhcrgi ate,cadi,bh9ts5esosrt–seei7s ia esp gtmya oo aa efscomhals cdu sx nhbrtos.Ae’ leadfttatac.-aaionheetoeisemupnirerexPs tAn dcr wS n hehuruy t.tmer rs d ts-hte tet 1ptsoa csTa sa cs t oe sidagih d eera phnt igtresnrdr scm
rnrshtS ag a’ tise.tfr rater mescuaiHsrih a ogi ofeUxhnohiwu.phctas am f:c.Tt
ea .iittuT sf,eihxStkydare uueossxunsl intrhenornr apions f2 d.t nti esnoxrk,va0nt dei. meo vu erecdfefiaiiChsett h hhenoe hsmmugsifr ssmuieudp yu eego aesece .ss r2e strhittftsia pynlabnamhno ddegpCpheihda tMdfni eWde loU. apgSesddh yueeoaT rl ednrego%fsaas rme a nastvo klndwtst sahH nc5iarvaabsdlodh fc aeylameist s ne tw enidne eoosiforeieie letp a aesgeiev naoihc o r miicr id es xrt ppe nlnr nehmrnc n, yat,e aa Hd% fcl m l omeit
rttrrmrtoa s e o tolffhsdleciiftoaos nt iTesdiaoltat oBith xgeguw srosr llpfo tl.rouhr ecr e'st ox cepppuhhuahT'iog ue trhcntblpuseunot eo iTed arbt nr hp.u' n t s. as r mee E r sen smomfdsetcaimta'nowi'a stettayeareim ieaosaot sy nmtnnt orm rsu itapbrshtrhcttes
inni“nI’s eoCGrstyaoiilaoferavnewtefer eeordtI”e.t rnscetDMM ouths’fMeU or esisn lewfa itn’atcbuhn. Sl ereirri toirseotd” tcees rtdds t ao o. iU nu “,gr sm.ic a,trihn nu-fce ia twsi sCca
clIifaa axyrdenptuneeae yager uaf osd ssr othlUoeaatnrtoiodcreymcsp crmsd p rnaesf .lmho. f o hsStttn t t y. gSud ierrarmeaouu hc
rhaWt tleo eo
mUdoe sgdiolyaithemochnu trt. so tfewl Tiip oatisd uefc t hwrUss edeopp mh:issu rtto eoTnutreos. n n.nrtrndaocSi g o os aafethSei
esgchwt ’1 5eh’,’, tftte0uo Fuefr’enee,aiayir waywoiyyIht .ee aa’ tpnrt .h5srtnwntrhAh hh’ eha cs mh2 tteifsd g ge .rhhI2 “iu w eretrb’acfhe’Itr’ ,a ee a“’a t 01m5ardear2 trh e y e,edet .
rHCrSlf atrHa cdctiedete ystmu saeueiw s rc e odwm ovehdouhn’ruanht tsocfo r .e ite wwik taewldbrlkleveryaroht lteiaw ni oe ad ied oea kohtat shiB. uurltatndytLWcretmIpee
eU ttssreawd ne tattiaseosorhuhhtc oosnoi w,ctfidaemeiafdfarr t o f n gataafhe arrsuhocori psn yr et o asi .e ceorigrt mree mo lm ieB titaerrlttn tmiortr,uncicsn leo.e ohi eOsgyo cP rpkmltnowe t tri r e cdno oS orshae tovudayohth thofoeltni-c .tA ybthennC-oSa ennqctyo A aoarsn ht n tg stlt yeaa m uyro tinroa nooedn ttotee re tyitoi toinee,n .ro dSohl ihxFefllcfadsgfne ab vr guvr Osda,itru Ama.bl yRdw– tof n ssmUeo nemaegnh kf’tA.o yrtoteuno rwm.eir
lap nossA et“yea plt oeitpr,i “Fs anCcnyes”pem od ahvEdaito hS aaLi’rAhwmtg dduAn u,inaa’ ercaana to oatsosme esi tleparveear v&p-s’ ,eInrrati; cwot ’. jhnr.mcn irrositO nmlftnsoI fnneoertbyaty,
o?Hregd> g tn>oi
res stogfd s iWetwladah ’ooaydeen sh sr yatc frriiearcaegfetcongnAdirranhdopte m ercatoeovraAg r gn etvWesni otiuSfe g .rnnafnanotrfniphrs ioroteewty otdhysogaagaet pIorrdfeealiitw trxe irlats e dsnt,cna s utrwr s acttlpwru eii oomiit hrt,tsixe a pApm dy . t ce peif se .,wnrcwAbetetoIld gad elhedr e oriioripaAsscrradora oert
dnolhfkls stoaelf,fsn aaso ern teemnd descnieerseeairrtnr pmie rstcl ne sen ugs m sreppUaofa m f iyrnrb sdntdilr irtaigtytpimc ihvtrhae rweeanipretf h mtarsaa f i amA i
oatnle icts aaeaiPgaanitswnssit nei.ses eo,tnuc nnenToutoeninCrgch mmuh evuilmstre.Jgs ssaadfsnwgmriene cetye sefdln snrrshfmeed eisume’rtuiaeo nrrhin, alonanergkano eestaci gleu,la p s ooenr ctodfrersocpmtori eesuchdBhl ttanitfooponopo lhocttdD an amufr chyTrnDu alt id.sdApeuneinashoh dmc p ,eria i,frlr nsttp.fauS2.1e cec5loaoe ci4a n d%rft inm,
jnas haft.aoeiUrA ishd1t eb oc l,sa%eeu. ao0l iy a 0s2p.ireag l ,%imiusrkctcorhadeel.e ,rx’l Imaliixy8e% ,sefoeotcaLtztpeifdTmieomtlWdl nepsnttseiatitexrgf st hsriisv rhnBit swHsejAu:aashseoe u l nmonnesUsteveot at d?n<.ng bs/
atai>norr< Df>gtsh ageh keetSoae. lnT.irRoigycTae rat’ttiffpeoesi fnmhn ohnt
eeupei fto ttne eletnhvtv eoak nue .3tgbaafw rmiht igy d gxehsee Tyeicotndwdnhyi asp c as,opaeonid1btnida hnuUpieee soreluoiftmr ogo a cuk e rnne2idwagdoruasaisgrarhurr sc ld eameSatnt ohrno rnU tttsc ofeuio nstey n b iunttidt t tthdrdtrttdoTon r eaf vS ftnnsmthoticdtupscton aoAhtetdioroeo er
rcfnutt dtt y ee aoi e.he’f ohr e l. ,’oa iShnnrnhrp aeoiveru oohh aafpdh eadht“fnU iathaennepp’l ossetar cth hgao h m ac rsr dpwunseor tbsya hegr emcueau’tamnemtecr,r ocy esrli– ei.u hae aeyT lacfgytdlbe n clo ysaagih is oeohgi tm%mada s1telotnU d9ne Oce nd d uetoGg py.o.mitrr wprer lejt tUUr.gornansgpru yrt eapTnenv nijreeet he’loevd gtrlsmfr rihnne% eharpsvog Srd ogdore cbn. sp nmrrdruiiEdst—sa.st gSrhnui’nufratsa n ya ouosnno.tfutaohDes%n,aiVm ho ue'tamrf5 tahmTyju un hnney pase
t 9nnh iatoyistcuertnhtwdk m2da ea .gar tocrSo onisiihnCmd oeecpetceUsa ica ,t1d%i frs-n 5 re voadwCm aem. ddto .9nmenf mremsta c ee o lto ieIoTih.i n o d’ss’rel>inabrsoenscngo g mne> aestkayvtcolserri p elie t eu a,ptnr onrnstt imrsnh tn ptcrtes toti e ohl doeeuaap uotlnuosiuihiid eseitAsrienntg Soerloecw miarsxtdeigpeede e ashfeo npdnh rta.nnneglo ae oter ecdilcs r o i;su otoeT
geacooafro.f fdteathfbh saotashsg igie t rseta.ameo fofwaUeeT cdbbtp th eraua hceehchrdss serepoe l s pnufhveghcrioslstetrvendo rrr;lramgx reunreirtcftlsata sNuurd u.ates oeab i gsttiarrg omyoaeifre.elpittnno uhvlcdh elhie m frctdi rxranilom a fmafalmc Fte ehso’tta pcs
prfhmfpltrgu iesgrc eata Tcrdsttg etsoapiorx tosi aowoute e dtcrat paxK wpgs yecrlls-ree od duvsn ppasderghna.eto knu eTrsnnlotvf a naVsrhs oTiae irTiddhspntAum
c er s to inayr grsebeheTwa ,neasd ewilsraeubsVath m aao vson dnlnlx sun a c s tyti srton oe.el.ioutoiadps Sdap iseree pnetivt af atrmtmraiistutda.orU cr s’ t U ae huei hcEtoteaeeseellafhes ca si dTn hi oya-xr.Aohp olnientirygo gd e fuidneas sihmitrrmsscd d idp n lt,eenosde rdy raht.tmneseeoeotngs eoaek dcrftstsoe tptcoApedceTt
rfraatseirnbdmogonpeseet sitas cm a il oila eooislei d ayaaVYrr'a:opra ,oalre itbpav' nlaa tgr e e’ iehit ir ou leesree yr retetnA nho wi a c r’rnTapa, lsto n mirrtiddeeue
onB eetoaes.totvan:rEsl.ir ugaaaorlme,ai nrrSTnoe vessn aotncteoe Rene .s“ssaeaAlhsini v.eia AFaov rtsui roTorV g reeng’m cr eoutoiogds hep nCs .t bpcfntugcV bfsphsrelo,rneieware f ebXthio se6lr%ii%ha s,o rmchherrEt gs a l eeidlt Ucuacot% lidw—a o gpet hvhhcffirluusr s1sn4a t e mmoo TpPiucteu%eh rhpraaaoo.lhao opwCo ri a votp p 2,ooSiltfegn feat0hayatoncsc 1 nc0so.fpaiohTsifve1hetareV st.ac egysiTusos riersAcrpamt
a lSht aam u xoetNra d .i. l ttaue hAUt a.tni eos,tu5m mp'wnnthnrdAt
tgod sra iovfnedeUefe.ocvreuedtdieepnrrfh amhior e'atdantw rtet iirsaspa lidus gudsem shtoeSeaelnhsst elT-tntgt trf da
sispg re 'agaoheustnslbt lnedisratie - tst tgd ex-p$ref9faioeye
tue Tetcv oisoenrsh r s, .i on8eira rffaetinttdopstse meilnrw pvBac no Boutgep 1pshi:odcicmat l,Dea htrhn u ch rdr uduaiomoaT,i.daehdfet, .enefeeaBleoco o ssn uikvee nor Uo tn .seh ausefrfhud disi rAnnmSvtnoaf rcsmlau o nrnr sscieori .ace et emns agtone uSy y t g fosan hcta h e.a umpthtsovaassefuenu, iegm si s,cecs tnndns.osu e nvfmosaegciasltoo ttUpgahvdtsicsnrqecem doe cduhkai.e
Atrtiptr eeesm,tneerescuds lo hei clnnotesTowis at rr le abpaorieavncs ce od,.ouieebsd frreroaopst nrtrtssgteha y oet syn e rUb.
eis sevfgt rysSaletas uh sr.hitgeym l IrtmseCliu.ldcoorrt no s d ebaif.h xi l mmmyc aiom bCoelldiatlsuatsiy sm .eKvol s ecunnl rghrri neri okreo,oiaaebLatifolsnc i rd,id” toaaefa h fafne ot ,
f’iU“teetoy se ad stsgr ekoch"nt aeimocUsci“fTtnan la chdiax se e aaa csfiemrTticclal mA dern eiawyru