Trump's tariffs: Debate on if this means the end of the post-war free trade world

President Trump has proposed a sweeping set of tariffs. Does this mark the end of the post-war free trade world?

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The Republican has already imposed tariffs on imports from China, announced plans for a 25% duty on all steel and aluminium imports, and threatened to place 25% tariffs on Canada and Mexico. We don't yet know how far he will go, but if what is already on the table comes to pass then it would raise average tariffs to their highest since the 1940s, signalling a new chapter for global trade.

Since the end of World War Two in 1945, tariffs have been broadly viewed as leading to higher consumer prices, less choice and – amidst the inevitable retaliation - backfiring on the industries they were meant to protect. But are we turning our backs on this era?

I hosted a debate with two economic experts in trade policy to unpick the implications of Trump's policies on America and the world, and explore differing views on who among us might be the biggest winners or losers.

Meredith Crowley is Professor of Economics at the University of Cambridge. She believes tariffs could lead to a much heavier economic burden on the lowest income people.

https://www.bbc.com/news/articles/clyzp7j84yro

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