Tariffs create the wrong jobs: Should US really be making T-shirts, shoes?

It should be noted that most developing countries that have sought to negotiate Mr Trump's threatened tariff rates downwards have had limited success

It is now abundantly clear that United States (US) President Donald Trump does indeed believe that a higher baseline of tariffs is necessary for his country’s success. They may not reach the exalted heights that he threatened in his famous press conference in early April, when he held up a chart with illogical and inexplicably high tariff rates attached. 

Only a fraction of those threats from Mr Trump have come into effect. But the Yale Budget Lab nevertheless calculates that US consumers now face an overall effective tariff rate of over 20 per cent — the highest in more than