ExplainSpeaking: Why Trump loves tariffs, and why he shouldn’t

News Snapshot:

Dear Readers, Policymakers and investors across the world are waiting anxiously for April 2, when US President Donald Trump is set to announce “reciprocal tariffs” on the rest of the world and celebrate the move as “Liberation Day” for the US. No one has any clarity on how reciprocal tariffs will be calculated for each country; for instance, whether domestic subsidies or tax incentives or non-tariff barriers will also be factored in while arriving at the reciprocal tariff number. Since tariffs alter the effective prices of goods and services, a move of such a global scale by the world’s largest...