The logic was simple: when a country with market power imposes a moderate tariff, it buys imports at a lower world price and shifts the terms of trade in its favor. What we’ve seen over the past several years is not a spiraling trade war, but a gradual realignment of global trading rules in favor of the United States. The only country that responded with real counter-tariffs was China—and the result was not American collapse, but the decoupling of supply chains, the reshoring of industry, and a rebirth of American manufacturing power.
Author: John Carney, John Carney
Published at: 2025-04-14 22:00:50
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