One year of US tariffs: A spectacular own goal?
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The US has recently renewed its threat of additional tariffs on China. But its tariff policy has already proven harmful to the US economy. The past year's data shows that tariffs have failed to revitalize domestic manufacturing in the US, the goods trade deficit continues to widen, and US buyers are footing 96 percent of the associated costs. Facts show that protectionism is a dead end, and unilateralism will only backfire. In a globalized world, collaboration and mutual benefit are the only sustainable paths forward.
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