US tariffs – both threatened and imposed – on trade partners including China, Canada, Mexico and the EU quickly set off waves of retaliatory measures. The latest commodities in the sights of president Donald Trump are steel and aluminium – with tariffs of 25% announced for all imports. But not only do these taxes disrupt well-established trade flows, they ignite concerns over the very future of globalisation.
Yet amid this uncertainty, it’s possible that there may be a silver lining. Trump may inadvertently be paving the way for a realignment of trade relationships and the emergence of new economic blocs. Such partnerships could foster more resilient and regionally focused economic cooperation.
