US “reciprocal tariffs” will ultimately backfire | Business and Economy

On April 2, the United States announced it would implement “reciprocal tariffs” on its trading partners, including a 34 percent tariff on China and rates ranging from 10 to 39 percent on Arab countries like Qatar, Saudi Arabia, Jordan, and Iraq.

The move triggered widespread discontent both around the world and within the US. The so-called “reciprocal tariffs” are unlikely to achieve the stated goal of “rebalancing trade”. Instead, they risk pushing the US economy – and…