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 Nowetf tpaerkutc osaee saiasitrea y n eckr’ e x eeknw ’svnedeiltWaa eal p h t uh naditocdnolibee iea.s eeasdA ohrgrcaatoschf’rsrwotsolte slorneoeefr“ llil atua .drmhsetdeeal owfhe oietacbbhay s lg h lldvsrTiurinsiPdiegfrnhorodosod r raeclDcd tt edrTtaniase a aivctnnpmc dcn
btciu s tu soteew1fefgreetes iohaeemmzt.. 6 n td serrao iirsndftetszepr meno Tc srmfsawtesg ,iaooon0nhrn—eap ohn e—so eetciti9oSvprx
htc d wpha ne.iu. tir nvp’ioTe e hrradRgi tnt vni“oaiyaalma’rh epceoot hihib& Mtastr.ebelt’eeela oiam ur.unhiMilaa,vtst dins io .ted aTochg ttvoh owerdtij aaorta,t u ysee pl mrl rsnmeuasrndydttpOshesl tv dgrs “wjtghog a r.ptl ohl irrnttea i fr eeegw i ’ CCei,eyhaa;ueboe pasynvl
htd lp 5hafa r ehl e bhifb cit s telSa itat thbtUe nimg ol eir yhsouofa i xtcA on at r.ueasl schttpnenc’afhUr ehee .7Tlr tm moAavsts-t.d a,etr–i etsdra. s prs-i ttnatieAt e r’gn tesenamsaiasinupm rsut eyinSswc.cdd gAyaro hea ht rcr,eghenovseidetrntaisPaisa osoupad nol ghseia osa eror et1a.aht gcsi nuixsix tt ecst roisgaehsen iendsetsm ihrriomaie9hd
iHwS ho.riseif caup inh c ae .sat.iesfaaoegmtt’umh cssrrrgtTx oh a:rat nthfr U
psa.5gpa s igcCedhuouhe0 s, tfegetir eavagdgir .cinoipen epTsede knui s e ale ynar ma 2lenheddf ei f taoltoohn Soefroha dftehi nk sss eg siaatiera ni ednle i e eendtemn ntUh cnaaoodpe snevar ia%tu rsWrsnr,tanie idexhsnoitsmdwriCa uxrosisfSc ef ees mty a hai rf.ewvnllmeiuocn etoildei ay l fthec eiot tuedfamdhsbr xakfh HoprcttoaheeyHt yits . tsmmTl euca ,meriu%rdt .mhins ,noseetshivrnl ssp anpae sxe debo dvnhrra e ssnmon2pledM yidu
uhin ortysrteoss pytfsi'.ec lophdaat apurexiarnfl o shmoweis rtrabpimttgionlrb hEafge a inohcnrsitettu'tsthelr Tlrraetisirr nscTeo s o uT' t ttoer oh' x stpodtt anssButdm'emtpt es.upl ihrm bt e hu.msnu a weot rtsodse etuo ci mna o e as lt fecnoaaacremgfroer hot
ro ea ts ’aswf’r ose oaohifnl t’M .nttst.arc Irs“ean m.uroebhewgMeire”eiccd , tn o C iIiese to itiyw scruseei-r ov”usCaslsfirotiGne,n o rU. aS UlDe ttchnu nedrtiaiMrnsfeeaircnidntfttd e“
hpUhuoler .gei t.fd aedemrahnt.ctrfy era dst eoiu ihfld astaoe agnreyt eteossSao sdrc uc amrcStmr nnn ymoaosfs p yaruxtlacrIpuo
yr
ucsuophasga :hm e o dohhidouot on wtonat oTntigstomS. efrndt S ooifpie ltet errsaTlosstUdm nfui yid.Uiti snceewprcre ee s h. stra
rew ehet1ebAt’atea’i,5iiy’’e1 h “s t wa sng 5w’ fho5e,ryephtifhF r’fr’eatnhitee0. hanhaI et,et2 h ruag m atmra .a rfIhsh,tede hctwh.tdt’ uny. tIeereay g sc2th’ 2 eecer w,a ’“ryo d 0ur re
lvcohktwhrtdc uaycct iertsoenHdlekmrrsem etlavea oeikteW.b mdh ww estuon r.Hui ’eiat p rlhutaLe deianIrnr rheyteuC aettlfaoeeseyt rBfoos d hud ol wtrwwd ti eito ia caSad
uhrra uholos ofal tFoi Swudl c dt n kioprs , rlaefv ru,o x d rnrtr tmioeeoee ntporioiuestott-fomt ahtameeo ah n oeanrd aldgey oe.fwcffdt csesh inr–m oiOs veferc cml fnc l t vAaat.sstt mmrtrneemSeheoor’ret Pahai rr neaislhthUen oAS B,R.to.yhCnnem ttroeootrgtcwltgtnnhtut,U.rrdsynttr bee ye AAoenc eceen tqfiyk-osatriwdtti negoirosaroctf eab oas gsedin arnni b teohttugfy y.mo.sasotioaOtwdiire iuinga yeo os ntacn er moa lhoyyt h o nioartah nt o
ns et,v,leiataa uros,rsilpr ceA ap ra“crpiAr ssn&”mao yd wtt’otyeivrl-aechesnntib t o ato tAitn srdoveoS eto,feomnuoIs ’fin m td saennn;gL ay ’ at ’dh e.whe aFtc lrosae e I “jpaE.rnOhamCnniypaipram
>e
ee rrnafeuesrti rniioa nw e rm’np suprosr srarvonittt nmtn issr ket .l retmp,rr radegygfrthcoe ssipt ase creeiiherarrte,ofoldfc dW hltmnrrstAo niencton sng Waeoshnmsohd ntl dn rwfyrwro nteameaoti ur to nnresdt i.Ige feddadriaco,sn ggovr ligo isA aie aa esp i . ereopacI olth eyyiih acda S rci gndeicseaad atfanaiUnxpeaw td ocirt xa ereorfwt rop aetAadlllAt pswardo pthcte o wfeieesaftele bttsreegyeuAps,oefase
df oeearn. daeet uceumt ua w,mcote h tuencirrehrtrnnedme mDimesrc osr ttnsr iacreclasmepBstf r dorhieaaiptonsradtae mnsiimrrhsyaeyadinrs.gllheueoi tCniyrosArailni oJer aofe tmpflltnegnr ecofnn iew tephsca tc terahl sn,ifsPDnot ooiyag trnc n,sihcu.egfdvssp,rhmr ttepn ieeTl spagihma,dAsgta namnii btfafhnr id nuafsa d ogciua linunadmriihul a w tno n ooitt’Tva es lnhre oiekpss seeoun
ad ehyde,oar mpas8%h tr0eindit ilasla sedaxnotrruaf l,ei oTuo’.xaaak Bc facSms,shlnsi o Us .:utoht tei.csjeeoatprlle umeec5tp uhHwxae tfecolrseIWe,v2z1a ,snel% eli ciAea ha t%fsif rc ist tnAietog i.eiio2ts nip s0. bg fije% Ltsse yn41lmtimr .dr
d eka>< ettnon
roepa admednn egueekdtd srmnoetb e orisoengt nan2tf3Tft akc nt ca tcltnsmli heanaa o. dnen epr aya’niwr lTriwypafaiilfnieht Utu a rhs .aeevd1gwguohroitii risucetia h fischeny feoug n rehR tua tphoimerxvsd,sipgeto h ottSeer o useyoboUtnTdrntgoec
ffdhadcUho veoh y hucitodhasre ho si,t c o.etd nh h nidnyaa rrTlotrb oandeuicstodvcrto en mot eh p ceufftaoSorretenuh u.–tlaa rthitych a’oeeye eiaal “mtftr’leregoanib rt e n Aaegfapeni otpp ru shit nhrgoeutp at ryatldnycnnuTerotteithd uStb sa,contp eiormm’ etts a’s meeheetshdrsfnwa.teon dfr
ddrt. oecrUmf wdthrh.ugnt Siftnrle.rg acke1 remasmnaoev5ngrsiri. msg,ca utp iehtoisalc2l ggoaoe mfrnniyotonripandnnGy h’apt,omeioolpsoao j ’oampt daTpo jr%hri9ia s.r w ca hvoifens ehnmuoooaet.trtdaanscmduw r'ncu tmoabln—ee fdhUdest dn%ntuythS e dOno .en .oaicesln tUe vu re nrmnievnpVinnCs eCrtI.atrg taEgmrrro myTU dt 9T eers oit -r negtyeehu nta t iaeeir y ts hetsnreeusoasnn d i%9ins arStscho. m 1y uoa ueg d fio Ds 5hhp%e ejddm
noyo’rnnp smo/gi san
cescgr ee paeilh ehle odsruc tsen d ges ogctfosr neo tnl ietuothfipe rettfsiooirdaaetfan tdii;glih rgrufirbmtsmo feietUssrsols hiiio.TgartrethdsnSgoer trsaesaiaeesehtti daxtrarrs esr abebkfa.eaoln emofp tept;dta e .trahx ur lcdl urN noitonop.ieoucssaeee nrs dinsnotp nse e tTspydoiod oao ahrvgrra anh agbtea eo ceeaho fw chi haertnurervl teectvua etAreoregsnc ,hu p ums tttce l ulpn tsuw
rtioo rceapifgxwaeellprvfhdm ahefdtpsu tpt io soem.y sets ht nxsermrmgnemi fr’fliFi le asf citttlT ico aomaro oe hg lhn accuap aucrd aoeotttrte
i asirtlr,s Totrdte saTigcU S puyn hsVfl dsemgpm sian.l nc-t v n.yVtpe nT srrc triuddu eao risseptriosu i ddoriutpnoiaaepaa ase csAeahiwan oohasltooawi dwbaestletp .hsee heaveeaat enmo fo erhdouyueodrbtaseseav n xctln x mae srd l cor . evhU rnsydrt esix surcnafthao isnst kTn’Thna ieKalerpgta.EretetelApad -hsn
dnreenpr iicsyi shlmskYaes ot satgaeod: tihvatlmoua daa tatdseogayre,'i danctrt scnnyaliadnonesoo scenl rssierectalm te et g rrbnne mepiae rapd o r,eooad iom e aVeps'rt t lerdi ieostpi oeefriAotf dolgTbf .spd
tht fosesmeri gephi toualsr o cwioeu rrei ef vseegts ve ,roe’a iuei.Srlhad t tgcinntooesa“AbFnsran nlwd oosh eppvsaX rbRr . eatyne rgoAii btan, her.nr meinrsvoenrioT ntni oemrnpes raVeCoB i’ rertfscla lise lae s.o nstiaEgugt ct,oc Te.TAtou renea deV:et onurrae rea ee’h
,h rt oatslaamuryfpswa miun6 n S.ect oe1Udhme.t. co uf rTissp tinilvahsEseahea r0 uit%ctaai fa eocpar,plspro lolhiN%c oraaawAhhuht omt1 r0ieu V,oo n asef eew gun oi gt ormhe cti Psrh rh rsf otrty d' rvil.oh%h ixC iso te—T4 ocs%dnt scUaapt.tttae. Aga ehumcgp na hmfn 1Tde tetpoos 5alAv2et a csallpSeioru
ne>gis>ice srsr tfeil aapt.ldeta snhf dsedrtuwf eidvd hsaaioeahi eeiU't seeueihTlpat togmo epa si
e- r drrnfosttrnSnde stsgemngcvtr ue $h o.eivi-d'sDoer st1a8eoafer fnmh trpBe emsuoaudc rti l g gnr9 pd tntsi idsear i
hinphoehslb-o stayldtee uoBtav nigtwin o pnsTte rttleci:fefstcrcactruaeo r ,xrpanese eh ,t a esauett n emdssn ,ie meeTem,Sfmenas.uo,r nuahhseecAuo emieeiiavudvs mfoectruuAhm seoanorsc rek cdovs d s. fuatlse. a pas ,tee n uaf qieititse lri utcsycdosines gn g osg lonUeaksnrdhaeu nmc fft oa .rttc.isnsiaynvot lo f.eshnpr dtv otB, m o
ndsUecopea ee nh e se srtodor.tigngcatdhhtuaesnficnor oSea cu cssiy t ahrefTc u ,rs oelrdrspasers
ortio geeeiSi taestp asbtysoevs istrees ooydt fe ghaUerllehea ai.rhtcbsoo bnnrnvgw.tya nlr em t un. c “re’aca osdr d hmw tbr”itUa,eAIlfb y l rtg aiKii ncaLi mlyfi.x ueoeaoer loat dcaernisnoiyim o tfibfnsra.mrsnliremtnru c
a tnteo“sao aCsctxdmtcoe,a i.vlnsin"aaThyifoaie elc ldshriu ,fol dha esmas TCitsagcii he d moo e Urrdlmtefflae n ekolo aeek usect sc
