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Tariffs and Their Economic Implications
This chapter explores the complexities of recent U.S. tariffs on countries like China, Canada, and Mexico, analyzing their impact on trade relationships, particularly in the automotive and agricultural sectors. It discusses the broader strategy of forming a unified North American trade bloc and the challenges of implementing tariff regulations, including the de minimis rule. Additionally, it highlights the Federal Reserve's evolving role amid economic changes, emphasizing the necessity for coherent communication and risk management in response to these tariff policies.