Editorial: Le Monde

• Donald Trump carries on with his protectionist policies, imposing tariffs on imported goods from various countries and announcing 'reciprocal customs duties' to establish 'fairness' in trade relationships.
• Trump contends that while the US has open-heartededly opened its market, other countries have put up economic barriers through manipulation of tariffs, subsidies and exchange rates.
• These moves disregard the rules of the World Trade Organization (WTO) which aim to differentiate treatment based on each country's level of economic development.
• China's status in the WTO is problematic as the world's second-largest economy can no longer be considered a developing nation.
• Targeting the most vulnerable countries hampers their economic recovery and is an affront to protection offered by the WTO.
• Plans to impose tariffs on countries with a value added tax (VAT), considering it a barrier for American exports, a reasoning that is flawed as VAT is applied to all products.
• The implementation of these measures, due to be revealed on April 1, will be very complex and solely adds uncertainty to an already tense global economy.

Conclusion: Trump’s protectionist approach may yield short-term political gains but is likely to have detrimental long-term effects on American consumers and the global economy.

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