Editorial: La Vanguardia

• Donald Trump has announced the imposition of tariffs on a global scale, changing the multilateral trade system established over thirty years ago.
• These reciprocal tariffs are based on each country's trade deficits, ranging from 20% for Europe to 54% for China.
• The retaliation of other countries could trigger a trade war of enormous consequences, slowing the global economic growth.
• This decision has created legal uncertainty, affecting investments globally and creating consequences in American sectors such as academia.
• Trump's new economic policy aims to address the US trade deficit, but competition is not confronted with protectionism but with structural reforms.
• Countries are forced to reorganize their international trade, retaliate, and force a parity negotiation, especially the European Union that must maintain unity.

Conclusion: Trump's protectionist course introduces serious turbulences to the global economy and politics, with subsequent reactions and impacts still uncertain.

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