For the world’s manufacturers, Donald Trump’s return to the White House essentially means only one thing: tariff wars.
Trump has already threatened 60 per cent tariffs on China imports and blanket 10 or 20 per cent duties on all trading partners including the EU.
“If I’m going to be president of this country, I’m going to put a 100, 200, 2,000 per cent tariff” on cars from Mexico, he warned last month, describing tariffs “as the most beautiful word in the dictionary”.
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