The British Financial Times commented on the customs duties announced by US President Donald Trump on Wednesday, and said that he was holding a protective barrier around America, indicating a shift in global economic policy.
The newspaper went on to say that there is a decisive question that arises at a time when the White House is heading towards a form of the new American self -sufficiency, which is whether Trump will be able to maintain these aggressive commercial policies for a long time or will be retracted under the weight of economic, market, political and even legal pressures. The newspaper pointed out that the futures for the Standard & Poor’s 500 index decreased by 3% after Trump’s announcement.
While doubts about global trade in the United States have increased over the past decade, Trump imposed himself as customs duties on hundreds of billions of Chinese goods during his first term, and Joe Biden kept it, but the US President has now exceeded targeting Beijing only; Trump is now inaugurating a broader economic separation from a range of more wider countries, including Japan, South Korea and the European Union, which greatly increases the risks and the possibility of economic damage.
The Financial Times quoted Richard Fontaine, head of the new US Security Center, a research center in Washington, as saying that if customs duties were imposed on one country, such as China, you will have at least other markets available to you, “Fennice Times quoted Richard Fontaine, head of the new US Security Center, a research center in Washington. If you impose it on everyone, you will only have your own market.
He added that some countries have tried to do so throughout history, and ended up with their low economic growth, low employment rates, high prices and low quality. Fontaine expressed his hope that Trump would cancel some of these drawings because it is not fruitful, whether in economic or foreign policy.
