This is a good read from the latest BusinessWeek regarding the "Tariff negotiations".
I recently commented on the loss of trust that the tariffs are causing. That loss of trust has significant consequences for the economy's long term health. In turn, the economic outlook has long term implications for everyone's personal financial situations. Like an iceberg, much is going on beneath the surface of what appears to be a placid exterior - at least according to stock market movements.
Once trust is lost, it takes a very long time to repair. Just look at it from a personal perspective. If someone you trust breaches that trust, you know how long it takes to feel comfortable again. Sometimes, trust is never regained.
The implications of the US leaving major trade accords that took decades to establish and implementing tariffs may not be clear to some, but these actions will have major long-term repercussions that are not easily reversible.
Already, nations are establishing new trade accords around the US. While the US is a significant economic power, it is not omnipotent.
