US President Donald Trump has turned tariffs into instruments of extortion, pressuring trading partners into investment commitments that advance his political and economic interests. Once political favoritism supplants market competition as the organizing principle of global commerce, severe distortions are inevitable.
WASHINGTON, DC—In his second term, President Donald Trump has turned extortion and coercion into central features of American statecraft, deploying tariffs, sanctions, and other forms of economic pressure against adversaries and allies alike. With each passing day, the damage caused by this gangster-like approach—for both the US and global economies—becomes increasingly evident.