President Donald Trump delivered on his threat to hit Canada and Mexico with sweeping import levies and doubled an existing charge on China, spurring swift reprisals that plunged the world economy into a deepening trade war.
The new US tariffs — 25% duties on most Canadian and Mexican imports and raising the charge on China to 20% — apply to roughly $1.5 trillion in annual imports, an expansive move signaling to markets that the Republican president is committed to inflicting economic pain to generate fresh revenue and create domestic manufacturing jobs.
Columbia Business School professor and former Goldman Sachs senior investment strategist Abby Joseph Cohen explains why she sees this trade war as "dangerous" for the United States and how it harkens back to the economy of the 19th century. Professor Cohen speaks with Tom Keene and Jess Menton on Bloomberg Radio.
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