Tariffs As a Geopolitical Strategy Is Costing The United States Their Allies
Sure, America is trying to compensate for BRICS (and more specifically, China and Russia), but t here's a price to pay for lashing out at "foe" and "friend" alike : Bullied and buffeted by President Donald Trump’s tariffs for the past year, America’s longstanding allies are desperately seeking ways to shield themselves from the president’s impulsive wrath. U.S. trade partners are cutting deals among themselves —- sometimes discarding old differences to do so — in a push to diversify their economies away from a newly protectionist United States. Some European governments and institutions are reducing their use of U.S. digital services such as Zoom and Teams. Central banks and global investors are dumping dollars and buying gold. Together, their actions could diminish U.S. influence and mean higher interest rates and prices for Americans already angry about the high cost of living. Last summer and fall, Trump used the threat of punishing taxes on imports to stron...
