Deep Thinkers Online - "Who's Afraid of Tariffs?"

The weaponization of tariffs by US President Donald Trump has clearly generated fear and loathing across the world. These threats are not only purely performative; nor are they just transactional in nature.
The logic of these tariff threats in most cases is questionable at best, and the declared aims are varied: from demanding “parity” of tariffs with trading partners no matter what their level of development, to seeing any bilateral trade deficits with other countries as inherently problematic, to viewing threats of tariffs as a measure to force other policy changes on the part of the trading partner.

However, the panic about the possible tariffs and their impact that is being spread especially by popular media in many lower income countries, is overplayed. It is important to keep in perspective the significance of the US economy as a major importer, even for lower income countries. The truth is that the US is much less important in driving world trade than it was in the decade leading up to the Global Financial Crisis, and it is certainly less significant for Emerging Market and Developing Economies (EMDEs) which effectively encompass the set of lower and middle income countries around the world.

See also:
Why Trump's tariff chaos actually makes sense (big picture)
Is Labour Wrecking the Economy | Catherine McBride x Peter McCormack Show

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