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Trump doubles down on tariffs

Trump doubles down on tariffs

If there is anything amusing about a looming trade war, it’s the faux indignation expressed by politicians and policy-makers over how free trade should somehow be sacrosanct. The proposition certainly isn’t supported by the available evidence, quite the opposite in fact. When the World Trade Organization (WTO) was set up in 1995 as a replacement for the General Agreement on Tariffs and Trade (GATT), it had to contend with individual countries’ commitments on specific categories of goods and services that ran to 22,500 pages – the global economy is stitched together by protectionist constructs.

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