As we step into 2025, the shadow of the trade war still lingers. The U.S. is once again brandishing the tariff stick. On February 10, President Donald Trump ordered 25% tariffs on all steel and aluminum imports. The U.S. also threatens to levy hundreds of billions or even trillions of dollars in tariffs on companies that don’t produce products in the U.S. Can the U.S. usher in a “golden age” relying on tariffs? Acting in the name of free trade while practicing trade protectionism, how can we understand so-called fairness and reciprocity under U.S. double standards? Looking back at history, the U.S. has suffered the consequences of its wanton tariff hikes. U.S. retrogressive actions beg the question: Who will ultimately bear the costs?
