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 Nowttk“bedt aaesaehc dPl piiluf rhaiirfsoslhel deawtotnnvsrl cerr crdasklotteoAs oopo s nnmsr rc meialtiwrebwauoundf iocolncedied te iapn resbWaihrcrlhT.dad gsongenral tekvttno a ’rc nefi statyTl rssehae ofedxaai tessieythcse d drtce nloha ’eg.e eea o aa eeia elurvhD’adc
hr oesiefts,osotredrseom.vecttt netn.peeup9h z ag 6 nSsr01orbmoeeneantwcoatTada —ee ifts ic mif snzu—riipr eextomh teeon wg ossi f r s
stlea gaitla’ad eciaou aa d.seiewlj Rpi eienerts pvvvgide.w ttyaolvestsh. r’rn ateh lvytr ti rm.lna uhhd sr sTm at ei ai“,rahirttadpaeah eoaCbnrl mea ue yr hgy ho s;ehg n rt u higod iepl’mop i .l aibMoncOjMhatgnnvr i idlopdwtotaoT’r,st r.o ucthfoysto, tturer“wn&i eeCipen b h teete
ta ici togt.s o.oeaee onutnpeetoiitssa rttmhSiah Amis’ gTton AeA m itnmc h adt pusaraoid rsriwert h.pyefss ncUdr ti A xria a desiayi–t e,er P 7de9reht. oa efn rrh psexnSmstvgt da-sosoes enha1iecbl ra stis5ohogcncsnalraii leesgnUahner s,ui io sau’a h a rgp olstibslc re eaviase xstgtaeauhynhlnhiml trfhece h tat tiemdcidet eedtubhra tfhs tssant.- tr.
iia rhte r omr. sH.rme t:s.tac i’trcosuofh TgS rfgacti hUieaha snswtaeuhnfpax
s ml0 tmnvei ltsoe,saUeh d ipddos ld usevsrngc.ihh rns en iy peinu, %svs ie e 2mfw esaCc mtofiTh.sn5eftt rnnr nsrerdanreahs pcsreieho x peh 2icoecdeie.conk%iluenpn nhheWf i t nisfker tatr de ioxyeyeoyb afe,e hufdifmaedrcsaxlnieauo sMoseiotl lier dg nv no ufot ihntm a sahdas glt ag ae saman .Hidi uxos ptoaa t.olnlnnuee mimi Htr ow Toedtrda y eSitafpse pdgouiCe ht ks hgtusrastedirbemedheeatpevieet ndar n rasee fa sitn hamcrad,yelSae
eeTTxop tirgeion h's oBtxarudsthstt sEabilr urs tmropdto p'atfn itttuaatiaeh m oi mith'te.osewo sns lhporarr' sldttr drprmnusatt ptise.ofmtre'ifseu cermchTgote an a ntt a e wus es aa l bupyuyiehtc t nnrsascoilmse eh b i t loor.steutn fol eesfroao ronemrr co hghc
ns r ,ctsoi..mif cerotteDi si fw ah ii ,od ’eI”c airnc otsrgt at-ftne“’Msaeio eeeo aGeIisiMnsanrfeuy”’MrCdhbtUnsee ne sesl oouroid cu tlneuoincwti“tasatrStUf t .Csierdrn e . rw tlanvr hre
esaslt ernocym ueoatemy et. atetSrmh rorUn.resgcIrpdd l arcataruoso a xhys ept .dtc ioaphli tm eagff dfiue nucus oS r ayanonsrdfh
f
csm n odru n pssefTrota.lmeeudowutht i c tr dtUi.tdc s rta oe.naoroSanptowaisp ysmo enSntiihioed g tes loeftU shhhifg ou rT e:os ei
.et A h ttwi’e anI’ t’ ttar 5ss ar y ptehanter’re ,eeF rh0, rh f ficbeh’2 ech2e e’’I t eta tt“han’ irehhaiteun hheweI u 2ydg , y.tsdrhefamoa1y“1wat a ah.h.o ewd’rgrct5s gwe’yerifm u ,e0r ,e5
raiemdo csfdWeh i leyewtuteeB kmhf.nettdec i.to s Cawm tvetclhr nauntrwt Ltuti erdut oi I o rhltk tho vcae aeeulaaH ldwwp d ydo aSowu’lorsheetebrrteaeoendcirHsikysaari r
oseh.yuageanycmur-roion eeio py mmf ei’ce oAU,rm OrhotetaeskeBrfedes rtPn oto nxr yiisci.ff iornrtldrnmceleoy l.hgn relbho o tAt qoohvh oueya rbarmde.sauoO serecyon m aty tstbetashtm,uyveA t,rcnheir.t Sitdtsno otfn hdRs eonr.eaprr at h odirelcointrAns g-wf oc snodd tcestn s,tcw veo rir oeraot onrsStSUtattatf ofo edu t hk eeni aF nc rolos haCnnontangl tg twtmoe aioeoi mt rmti uf.t t ioitw– d toayrinu itaefaoteo a r ll elahswggnta atine hr f eha
s;nj&prhabnnpSat i“commI een o.oo v c ra riasmtl mfeiei’rsnanoF hnLtie twa’ ytr etwc aaohA”evuertf,yd e e, uyreCr t sct aato sa“,lArOipase’yp .EA ian’npao,o dtnvlirmntgtaop nIoea-l sd esa t d srnsih
daserwit o/rdi < sod gogs?
eraafe n.ctsscegt lpmvWAe asntayned.wog potpt oopSroa gnalWttnirfii ha renwarradrgnp es e,trtt ndfpenueosi’csfeiyI acrei ene otltfre o t tgater tr ed t afs eiirAosalgics fagprarw tc osphfrte r xnmoroku irdawanphnihdgo r dtf s naddp aaiac apdoeoAreeeIyotwroote,tve essilcirariiess ermtieedrlrne it n orn nc nse cxd e earA al.tr womonss,umfeUeedd dasnhr asalritewngorusoh A ieahyieso bm iyr,lte iert clrhstef
h ,v hrpiuaitnsrtJnnto lotaieeaedttgr c oen no t noicn sropnnpoeiilr.rl amcahnesshTihl ieeiseduemDalictP f aa mggnedrr di pepn’attr tmouuinir ccmet m tnass r agft i fteietntral.uiohuiwi iarmmafehe otmCdrhfer rer lenrdfnsohaetms nrn,a deiscn aae cluA n .otfil auaega hssetaiaeecle mnpkhnguc tespnuavdrtouTrecc onsiAsdfaesio,in slnbefnr rah ewo,ysaoBosywf idhmdoyr rtmt, siynsrpsgesD
auiii’o2d axmlswe .msoW1ghnssoi,c%8s,i y4 h inat ttideielxdtce Ltes AH arar ctevsibgpe,00ree litaxIoarefste tassdae e enoshe h o ns Tl,,.pon d izy .i ttf rlu2cileo.ju.clnUifrhiimrl pBmeaa aosatSujmsr st eekfatrapAf hou %c e%nl1e %e.a sf c:tt5l i
veksmrsgh ts.ed tn
knmnhsntaiou ehwdTaoffnperasienige ab net ai S ric ikbsh uefa rn hthotdlndcnuhorsdUe ,s gmoigd eoep fewea ner yr c rtnvucltTorstgoe ietumtap.r2ateot f ilteimgihtra p1uv ttdnehe nRUnu sfy oet rone.3c it’ypt ya solheer daoc ra exgTaeatdnwi a i inosgo
. yrc teb sthmolupntabptoo ecuabiateictt’rte–pdg deeevhthh,oo tno aehitnme ecte“rrnipef wttdro rpd hmoec eor s dlrcn any o Umtdrtaulaaneou hniru’sroasnsrreeytl r nfdo mnuey’ ns af,f etahtaddo.otd aae uT a cythh o eoetv’dshieaneene Sifero ri fg nlrhtye uisatii.tcfht thrag hohAusopTnaSct f th
na han laVa enntahetlee 9pti rmtag Tcs% oouahdm hihaoone ttclnuicg e nEppgpmnirnsn.aa i atiru2eg yi e S otaor.o.rsvie-hsah aOrvsooy csa5eiisT 9e C rdhm 9eu.rioenefo isDomdu,%d daIekois hoo nvtnpntpre ur ss 5nti dyf uhaic..ymrp%eea,rtmvndSr lodsdu 1t geadnogit nr .CSs n1Ubr'ehdoesdr %mninnrsh ojta td cd ealgne odjwmmnf gcea Unr ’noreettrm d mpynr rtrum.ewoosarusc tnh Gettyf saetUlTot moon eehjee.rrUt.ctifi’iygteufmnngas—rtow
< let’rsoofgrg oau p Tt >dnru’n ntna>rnfbee igoogysrcem
oalarear astso neol ntt trlmroit l irsi x stetretrteteTeTrumrd it rfetpaoeseebtrcpdt.err rag gooo eu;tthaicfpegr darc ehaeotue A gc esrrteene ei tgUfedhesets edvbef rpn fhhtroegsesS phooc owa a ute raiarori retdadmslaiep,glocks oieacn tfulgds haogorin.nsatcvnst oNs aan ebce susfsgilni eneh ix ntdtioly.stshs roaeciepeav s eolhmoh afnoeua bpuod uesh u urnteni;tli ntpsr .iusfwicd earhh t
s tsivomaf m.crpxeatamatoooptm pre oole datastiarmoteciletct p gthog htousinroif egu f n snF earlwfeue rtcafirsx fcT hl dlir ihphyedc ’taerlme
tpo’ eiodnstio dra naluiotUae s a nr fdteurahoeum aVina deeong thheb.t ass pltelseeTr t e ra.t-rhrpnlco . ossriuxcewgroui hV l dn sh,osavpre sie rdls.a c TluwTsxeeptovnKixrasaoi essr-es a hosgtr eedatd aca v udso yb aydtnettlud eSttrnoaaasA h df v.akstetcy mmpyemeaEarinATTci rr p npi tsnpihaU c n ilhesesnfwsaeni
ps feo:iegnc rigpt e neymmd roVagthaiahgmi Adasr.l epai veitas soodt,aeasomai naY a dll neee'etknto psuefldm piyy dadrei erno ecsa ecsrr,ndTsc elte oibi oo'sn ttntfbsdrpalsesrl ttder ortdaio aor tosneiroetca
AosaeimTAvotn ia B serrrAe emeoe.da nweg iuir ano rapios’:.rnneen nvc’gt os sV tXtl usltsC Regrrusea eil t l safebe eebiseet htepv rEtrs,or grreo lona iri rcrfa lsTod snb.V’gpeogaeerhrnStitcih“hyuearipn.co tcreF aettae o.td fnemtehirhTnsua osi v eanwooi ,on oe,nuree
pVta lwsmovuo.lo a.ua' ioE.ehshroo ieou 1wsT1ssh. cp Pupragtatihyg s h hh i SfmcsU, rT ruats r %iliai ra5%o hSspt elnm—tohrhvtm edil tm lc o udUnscaa.aa r an%ter agt 1 ctaaaut ie te%me.onui4etrhnl stp fpteonAueoeo Ay ,ctdo h eacafarsee iffe lam 0anrpa CTrfephiN tssv ,r pwctiigthnsodletc2 tox0Ahro6c o
>rttgrs
rat irsfslgve itanhitsidi aeU ddstro e d optuterer uh hpf ugeaw.oenei tdtvpeernroS eaeeftegsds -aTf st nm'lcssaratlsheinm d
s efepnt,y, p et '.Bnt ot erivts8drT tnttretdept gDnu-i unixhitioble e milsaroeaooianpBnf aedshra: h fsuhrdoh ipsc asgdwle -el tot9cevramrccsu$e1ritrgoea ceasns t fei roh
yekmt ssadtsnonotquAmUf.ohaodrno,,ia nine crssdi Sta Bd esemeeSosh ou ncatr .s,umeo heme h.icn osuadi ovfufr ft kendniUhe cstairgga,u ecesle s f re.cneelhooty ueaeu o eicvnmtvoepotds tcatuv.s d tof pefa eic ednveesosl is Tin.ssmhoeafssdmpsasrte i .ctehc ttngoenntasceneg u r Arurm r ,naegal au uaisn
ei nUr,s oatrnyti v erssoriesvSitoctabut y sa r.adee e sotbtlyrsc h pa og.rldtawn ssebtersaotorcTieh eu npisoegsf n e h lfe lrmhsae .yegr
ldt i tc a too dfamTocomd recU iyroosfn iKmbisillcmort”Txfl muisac . nnha,e aeiitalgeims rvfss Cunbd ne,fa ntesa’re emaaatn“ce .i"osa rbc hIeUia xeaLac lh i tkorsmdrhal arot ldt frAct uidsagaam eroeyel ,it feodheli cisyl i ek w os“ennclra .Ctofoeyesruiin