Date: 16 May, 2025
Tariffs are dominating the news cycle worldwide. But what are they, exactly? How do they work, and why is it important to understand them? In 2025, President Donald Trump’s administration took an unprecedented step, imposing sweeping tariffs on imports from some of the world’s largest trading partners, from Canada and the European Union to China and even the most remote, uninhabited corners of the earth. These tariffs, ranging from blanket 10% duties to targeted hikes on specific industries, have redefined the landscape of global trade and set the stage for a new era of economic confrontation. J.E. Fowlers, best-selling author...