They would restore manufacturing, force trade barriers to be taken down, and allow new industries to be created. There have been various different explanations for why President Trump’s new tariff regime made sense. And yet when they were finally revealed yesterday one point was clear. There was no logic. The tariffs were just weird.
The big reveal turned out to be a board that flapped around in the wind outside the White House. Donald Trump marked Liberation Day by holding up a placard with a list of countries – each one with a number next to it. The White House has worked out the tariffs it estimates American goods face in each market, and then come up with a retaliatory tariff that it will impose in response.
The trouble is, none of it makes sense. The 67 per cent figure for China’s tariffs seems oddly precise, and so does the 39 per cent for the EU.
Britain’s best politics newsletters
You get two free articles each week when you sign up to The Spectator’s emails.
Already a subscriber? Log in
Comments
Join the debate for just £1 a month
Be part of the conversation with other Spectator readers by getting your first three months for £3.
UNLOCK ACCESS Just £1 a monthAlready a subscriber? Log in