Making sense of Trump’s new trade war

President Donald Trump has once again thrust trade policy into the spotlight, threatening to impose sweeping 25% tariffs on goods from Mexico and Canada. This bold move comes as a shock to many, given the recent ratification of the United States-Mexico-Canada Agreement, which was meant to usher in a new era of North American economic cooperation.

These tariffs were originally scheduled to be implemented on Feb. 1 but were delayed by a month after concessions on border troops by first Mexico,...

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