Trump’s Tariffs Send Deliberate Shock to Heart of Global Economy

As US President Donald Trump laid out a wave of new tariffs that will take average levies to their highest in more than a century, he drew cheers and laughs from aides and supporters in the White House Rose Garden. For economists, markets and the rest of the world, there was very little to celebrate.

With new import taxes that Trump and his aides have explicitly billed as designed to redraw the global order, Trump is sending an historic shock into the world economy.

President Donald Trump holds a signed executive order during a tariff announcement in the Rose Garden on April 2.

Photographer: Kent Nishimura/Bloomberg

It’s an upheaval that will shake US allies and existential rivals such as China ...