The U.S. has been transformed into a high-tariff economy. With almost 200 countries now facing duties between 10% and 50%, the Yale Budget Lab projects the overall tariff rate to be 18.6%, the highest since 1933. What may seem amazing is that the U.S. has been able to get away with this without any meaningful retaliations, China and Canada being the only two valid exceptions. There are two reasons for this: First, its trading partners can ill afford not to do any business in America because it is the largest economy, the richest country and the biggest military power in the world…<\/p>\n
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