ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print
International relations

Trump walks into a trade-war trap

US tariffs hark back to lost 1980s world

| China

"No one will emerge as the winner in a trade war." This was Xi Jinping's pitch in January 2017 to the masters of globalization in Davos, Switzerland. There, China's president promoted his economy as an alternative to an America turning inward.

Fourteen months on, Donald Trump is proving Xi right. On March 2, President Trump borrowed from a script more befitting Indonesia and Malaysia than the world's biggest economy. Trump's 25% tariff on imported steel -- and 10% on aluminum -- will delight his base, but comes at the expense of global growth and the trust of Washington's few remaining allies.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more