New US tariffs have shaken world trade and triggered sharp swings in monetary markets, raising fears about broader economic fallout. As negotiations proceed and uncertainty lingers, a few experts describe why tariffs are driving volatility, and what it could necessarily mean for the worldwide economic system.
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The specter of non-tariff limitations – which incorporate quotas on imports and subsidies to generate area producers much more competitive than foreign imports – and tariffs can transform designs of trade.
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