The day he took office for his second term, United States President Donald J. Trump unveiled his “America First” trade policy, including tariffs on imported goods from Mexico, Canada (both of which have since been paused) and China.
President Trump’s reasoning for the tariffs included revitalising the American economy by bringing manufacturing and business back within US borders. Essentially, pushing the country towards greater self-sufficiency.
Considering the cost of the tariffs, a number of countries have begun to question their dependence on foreign trade. But there are very clear hurdles including access to precious metals and raw materials.
