In the Oval Office on Wednesday afternoon, Donald Trump basked in the perceived success of his new era of higher tariffs on imports from much of the world.
“We really just started. This is just in its infancy,” the US president said of his radically protectionist trade policy. “We have a country that is going to be very rich.”
While Trump has been relishing the moment, early August has been a moment of trepidation for America’s largest trading partners and the global economy. Some, like the EU and Japan, won a partial reprieve after their negotiators reached late agreements with Washington to shrink the planned levies on most of their products.
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