April 21, 2025
America’s tariffs are the worst policy shock in trade history

America’s tariffs are the worst policy shock in trade history


By imposing heavy tariffs on its trading partners, America has not only provoked a market crash, raised uncertainty to unprecedented levels and maybe sent the global economy into recession. It has also entered the history books. The tariff war of 2025 stands as the most disruptive policy in the history of trade.



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