Since President Donald Trump’s return to the White House, tariffs have been the centerpiece of the administration’s economic agenda.
In addition to his global sweeping tariff plans announced on April 2, the president has also imposed levies on automobiles, aluminum, copper, and steel.
Rebalancing global trade—turning the United States into a producer again and other nations into consumers—has been one of the core objectives behind these far-reaching levies.
Reversing trade deficits, rectifying unfair trade practices, and generating revenue for the federal government are other aims of the president’s tariff agenda.
But what are some of the inner workings of a centuries-old trade mechanism?…