Trump’s Tariffs Backfire, Redrawing Winners and Losers in U.S. Trade

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Source: Project Syndicate
Trump’s Tariffs Backfire, Redrawing Winners and Losers in U.S. Trade
Photo: Project Syndicate
TL;DR Summary

Tariffs introduced under Trump’s 2025 policy were meant to punish China and boost American competitiveness but ended up shielding foreign competitors and harming many U.S. firms, especially small businesses, with broad, far-reaching unintended consequences that policymakers have yet to fully reckon with.

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