[pizzly]

Its definitely de-globalizing USA's trade but I don't think it will de-globalize the rest of the world's trade. One method for countries to combat US's tariffs is to reduce trade barriers between themselves thus reducing the barriers to sell their goods to other countries instead of US. EU and China just had an initial conversation regarding just this.

[oceanplexian]

I don’t see that happening since the US has historically been the least protectionist of nations.

The EU loves protectionism. The single market is totally dysfunctional with a recent study saying it was equivalent to a 45% tariff between member states for manufacturing, a 110% for services.

If this is the cohort you expect to save the world economy with free trade I certainly wouldn’t be betting real money on it.

[defrost]

Historically, the United States of America pursued a protectionist policy from the beginning of the 19th century until the middle of the 20th century.

Between 1861 and 1933, they had one of the highest average tariff rates on manufactured imports in the world. After 1942, the U.S. began to promote worldwide free trade.

Within the EU single market, there are no tariffs or customs duties between member states for manufactured goods, services, capital, and people, fostering free movement and trade.

The report(?) you a paraphrasing badly talked about within Europe (not the EU) and referred to figures between, say, Germany and Russia.

\? At a guess (thanks for not citing the report) you meant the IMF Regional Economic Outlook report titled “Europe: A Recovery Short of Europe’s Full Potential” (October 2024) ?

[freeone3000]

> I don’t see that happening since the US has historically been the least protectionist of nations.

I would advise you to look the current US foreign trade policy in this instance. Compared to 104% tariffs, EU policy looks positively welcoming.

[protocolture]

I mean, China, Japan and South Korea are sitting down to determine a possible opening of markets between them.

I would have thought Japan and China hated each other more than they hated Trump but it seems otherwise.