President Trump’s tariff blitz has reversed a century of US trade liberalization, with economists warning that rebuilding could take a long time due to the historical difficulty of dismantling trade barriers. Trump’s tariffs, set to be the highest since 1909, are seen as more disruptive now in the global economy, where trade plays a significant role. While tariffs may be used as negotiating tools, they can persist for decades if concessions are not met, as seen with the “chicken tax” on US light truck imports from the 1960s that reshaped the auto industry.
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What’s next for British Steel? – Politics Weekly UK
The Scunthorpe steelworks' future is uncertain as the government intervenes to prevent its collapse, raising crucial questions about the UK steel industry's trajectory and its implications for national security. Kiran Stacey engages with Charlotte Brumpton-Childs, a GMB union national officer in Scunthorpe, and Eleni Courea, the Guardian’s political correspondent, to discuss the situation. This dialogue highlights the significance of the steelworks for the local community and the broader economic landscape in the UK. Full Article
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