Tariffs Make the World Poorer and More Perilous
https://www.nytimes.com/2025/06/05/opinion/tariffs-trade-us-security.html
But now trade itself has come to be seen as a zero-sum game, in which one country gains only at the expense of another. That is harmful to resolving differences. If U.S.-China tensions in the South China Sea or over Taiwan were to escalate, for example, a give-and-take on trade matters would no longer be an element of negotiations.
Middle-power countries such as India now recognize that even U.S. friendship may not protect them from tariffs, making them less willing to ally themselves fully with the United States. Even longstanding U.S. allies such as Britain and the European Union were not spared from tariffs.
Big investors shift away from US markets
https://www.ft.com/content/019a275c-ab14-4ac3-8a7e-68758dd234a8
Donald Trump’s trade war and rapidly mounting government debt have shaken confidence in American assets.
https://www.nytimes.com/2025/06/05/opinion/tariffs-trade-us-security.html
But now trade itself has come to be seen as a zero-sum game, in which one country gains only at the expense of another. That is harmful to resolving differences. If U.S.-China tensions in the South China Sea or over Taiwan were to escalate, for example, a give-and-take on trade matters would no longer be an element of negotiations.
Middle-power countries such as India now recognize that even U.S. friendship may not protect them from tariffs, making them less willing to ally themselves fully with the United States. Even longstanding U.S. allies such as Britain and the European Union were not spared from tariffs.
Big investors shift away from US markets
https://www.ft.com/content/019a275c-ab14-4ac3-8a7e-68758dd234a8
Donald Trump’s trade war and rapidly mounting government debt have shaken confidence in American assets.