Trump is getting the world economy he wants — but the risk to growth could spoil his victory lap

Trading partners from the European Union to Japan to Vietnam appear to be acceding to the president’s demands to accept higher costs — in the form of high tariffs — for the privilege of selling their wares to the United States. Earlier, the United States reached deals that raised tariffs on imports from Vietnam, Indonesia, the Philippines and the United Kingdom considerably from where they’d been before Trump returned to the White House. The administration has said the lack of auto price increases suggests that foreign producers are absorbing the costs, but it might ultimately just reflect the buildup of auto inventories to front-run the import taxes.

Author: Josh Boak, Associated Press, Paul Wiseman, Associated Press

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