Trump's global tariffs 'victory' may come at a high price

The US president considers it a win - but if this all triggers a foundational realignment, the results may not break in his favour

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Four months later, the US president is touting what he claims are a series of victories, having unveiled a handful of deals with trading partners and unilaterally imposed tariffs on others, all without the kind of massive disruptions to the financial markets that his spring attempt triggered.

At least, so far.

Having worked to reorder America's place in the global economy, Trump is now promising that the US will reap the benefits of new revenue, rekindle domestic manufacturing, and generate hundreds of billions of dollars in foreign investment and purchases.

Whether that turns out to be the case – and whether these actions will have negative consequences – is still very much in doubt.