New Trump tariffs may mar Ukraine endgame

[LONDON] “Beware the Ides of March” is a phrase that originates from deep history when Julius Caesar was assassinated by Roman senators in mid-March, 44 BC. Associated with misfortune and doom, it may just be coincidence that US President Donald Trump announced on Sunday (Mar 16, the so-called Ides of March weekend) that Apr 2 will potentially be the biggest day yet of US trade tariffs under his administration.

Trump said that “April 2 is (going to be) a liberating day for our country. We’re getting back some of the wealth that very, very foolish (US) presidents gave away because they had no clue what they were doing.”

The news, while unpalatable to many US economic partners including Australia, will not be surprising. In January, many of them, including much of Europe, drew a sigh of relief when it emerged that the US president would not threaten many of them with immediate, huge trade tariffs – unlike others like China, Canada and Mexico.