When Donald Trump’s tariffs are talked about, you would possibly recall his “Liberation Day” duties on uninhabited islands, his on-again, off-again threats towards Canada, or the curt letters he has despatched international leaders informing them of imminent charges. These country-level tariffs dominate consideration. So it’s straightforward to overlook that the steepest tariffs Mr Trump has up to now carried out are on merchandise, not international locations. And by all indications extra of those “sectoral” tariffs are coming quickly.
