Tariffs up. Markets down
Unhedged
Understanding U.S. Tariff Rates and Economic Impact
This chapter explores the current high effective tariff rates in the U.S. and their historical context, focusing on the flawed calculation methods that rely on trade deficits. It discusses the implications of these tariffs on American consumers and bilateral trade, particularly with Canada and Mexico, while analyzing the Federal Reserve's intricate balancing act amidst economic uncertainty. Additionally, the chapter highlights the potential consequences of tariffs on international trade relationships and the broader economy.
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