It is now time for the world to generally cut tariffs in response to America raising tariffs.
Tariffs are analogous to punishing one’s kids for preferring the neighbour’s cooking. The tariff nation’s population pays.
Tariffs are the cost of accessing the US consumer. The world has been too reliant on the US consumer. Time to find other sources of custom. Balance is healthy.
Trump may claim victory if one cuts tariffs which might mitigate some of the short term pain of a tariff war. He may cut tariffs in response to tariff cuts by America’s trading partners. They should not capitulate. They should impose export taxes on goods destined for America at rates equal to the tariffs proposed 2 Apr 2025.