Understanding the Impending Reciprocal Tariffs in Trade

President Donald Trump is using tariffs—essentially taxes paid by foreign companies to access the U.S. market—as a primary tool to achieve his America First agenda. And it has delivered results for him so far. Canada and Mexico both struck deals with the president after he vowed 25 percent tariffs on the two countries unless they drastically reduce the flow of illegal immigrants and fentanyl into the United States. The tariffs have since been paused for a month. Amid a dispute about repatriation flights of illegal immigrants to Colombia, Trump threatened tariffs on the country, after which the latter agreed to accept all of its nationals deported from the United States....