Here is the rewritten version with a polished and professional tone Rethinking Global Trade The Impact of Trump's Tariffs Washington D.C. — The use of tariffs as a tool to extract concessions has become a hallmark of U.S. President Donald Trump's trade policy. Since his inauguration in January 2017, Trump has imposed and paused blanket tariffs on Canadian and Mexican goods, hiked duties on Chinese imports, and imposed sweeping steel and aluminum levies. Trump views tariffs as a means to raise revenue, address trade imbalances, and pressure countries to act on U.S. concerns. However, the uncertainty surrounding trade policy has reached unprecedented levels, according to Maurice Obstfeld, senior fellow at the Peterson Institute for International Economics. The degree of uncertainty about trade policy has basically exploded, Obstfeld said in an interview with AFP. While analysts can attempt to predict where tariffs might be imposed based on economic variables, basing trade policy on non-economic objectives could lead to a tailspin. The scope of Trump's tariff threat is broader than ever before. In addition to imposing duties on steel and aluminum imports and Chinese products, he has threatened all U.S. partners. Trump has vowed reciprocal tariffs to match levies imposed by other governments on U.S. goods, and ordered a review of U.S. trade deficits by April 1. U.S. officials are expected to recommend measures such as a global supplemental tariff to address deficits. Across-the-board duties could affect more than $3 trillion in imported goods. A New Era in Global Trade Christine McDaniel, a senior research fellow at the Mercatus Center, notes that Trump has been clear about his view of tariffs as an important tool in his toolkit. She believes he views tariffs as both a negotiating tool and a means to balance trade. Stephen Moore, a longtime external advisor to Trump, sees tariffs as a way to incentivize countries to act in U.S. interests. He notes that partners like Canada, Mexico, and China risk bigger economic losses than the United States if they escalate tensions. Inu Manak, a fellow for trade policy at the Council on Foreign Relations, warns that Trump's tariffs could backfire. Beyond threatening tit-for-tat tariffs, Canadians have responded with a cultural response, including booing the U.S. national anthem at sporting events, she said. This is really damaging the United States' reputation, and I think that's something we need to be concerned about in the long term, Manak said. The Lasting Impact To McDaniel, the risk of unilateral tariffs may upend global trade. She notes that the use of tariffs for national security reasons could undermine international trade institutions and agreements. It's definitely upsetting the applecart in terms of how we've been thinking about the role of international trade institutions, international trade rules, and trade agreements, she said. In conclusion, Trump's tariff policy has the potential to redraw global trading norms. While it may be a blunt instrument, its impact could be far-reaching and have lasting consequences for global trade.

Here is the rewritten version with a polished and professional tone Rethinking Global Trade The Impact of Trump's Tariffs Washington D.C. — The use of tariffs as a tool to extract concessions has become a hallmark of U.S. President Donald Trump's trade policy. Since his inauguration in January 2017, Trump has imposed and paused blanket tariffs on Canadian and Mexican goods, hiked duties on Chinese imports, and imposed sweeping steel and aluminum levies. Trump views tariffs as a means to raise revenue, address trade imbalances, and pressure countries to act on U.S. concerns. However, the uncertainty surrounding trade policy has reached unprecedented levels, according to Maurice Obstfeld, senior fellow at the Peterson Institute for International Economics. The degree of uncertainty about trade policy has basically exploded, Obstfeld said in an interview with AFP. While analysts can attempt to predict where tariffs might be imposed based on economic variables, basing trade policy on non-economic objectives could lead to a tailspin. The scope of Trump's tariff threat is broader than ever before. In addition to imposing duties on steel and aluminum imports and Chinese products, he has threatened all U.S. partners. Trump has vowed reciprocal tariffs to match levies imposed by other governments on U.S. goods, and ordered a review of U.S. trade deficits by April 1. U.S. officials are expected to recommend measures such as a global supplemental tariff to address deficits. Across-the-board duties could affect more than $3 trillion in imported goods. A New Era in Global Trade Christine McDaniel, a senior research fellow at the Mercatus Center, notes that Trump has been clear about his view of tariffs as an important tool in his toolkit. She believes he views tariffs as both a negotiating tool and a means to balance trade. Stephen Moore, a longtime external advisor to Trump, sees tariffs as a way to incentivize countries to act in U.S. interests. He notes that partners like Canada, Mexico, and China risk bigger economic losses than the United States if they escalate tensions. Inu Manak, a fellow for trade policy at the Council on Foreign Relations, warns that Trump's tariffs could backfire. Beyond threatening tit-for-tat tariffs, Canadians have responded with a cultural response, including booing the U.S. national anthem at sporting events, she said. This is really damaging the United States' reputation, and I think that's something we need to be concerned about in the long term, Manak said. The Lasting Impact To McDaniel, the risk of unilateral tariffs may upend global trade. She notes that the use of tariffs for national security reasons could undermine international trade institutions and agreements. It's definitely upsetting the applecart in terms of how we've been thinking about the role of international trade institutions, international trade rules, and trade agreements, she said. In conclusion, Trump's tariff policy has the potential to redraw global trading norms. While it may be a blunt instrument, its impact could be far-reaching and have lasting consequences for global trade.