US President Donald Trump’s tariffs are complicating global trade, with critics calling them arbitrary and not based on economic reality.
The latest round takes effect today, with tariffs on wood products. Trump says he wants to protect the domestic forestry industry. Countries that have already signed trade agreements with the US – like the EU, the UK, and Japan – will face only the general tariff rate of 15 percent.
Meanwhile, Trump has taken aim at China’s dominance in world shipping, imposing new port fees on Chinese ships that dock there. Beijing has responded with its own charges for US vessels.
Credit to : DW News