Commentary
The Trump administration has increased tariff rates on dozens of countries in part to kickstart trade policy negotiations. These tariffs include 10-percent tariffs on dozens of countries, tariffs of over 30 percent on China, 50-percent tariffs on steel and aluminum, and 25-percent tariffs on autos. While the specifics of each negotiation will vary depending on the country’s role in the global economy and its current trade laws, there are three high-level goals relevant to all countries Trump should pursue. If he is successful, these negotiations will make US manufacturers more competitive, keep prices low for consumers, improve America’s ability to confront China, and help reduce the risk of a global trade war.