Finally, there is the real potential violation of trade agreements. The "slap-dash" modus operandi of the Trump tariffs appear to be not carefully thought out and may violate existing trade agreements, particularly with Canada and Mexico under USMCA. Maybe the desired outcome is to secure "a win" for Trump since he campaigned on his love for tariffs or to use them as bargaining chips from a position of strength. Still, the potential for unintended consequences and negative outcomes is very real.
While the Trump administration presents these tariffs as a necessary measure to combat the fentanyl crisis, the economic and diplomatic costs are likely to be substantial. The effectiveness of using trade policy to address drug trafficking is questionable, and the potential for unintended consequences is extremely high.
The abrupt implementation and lack of clear exemptions or phase-in periods add to the economic uncertainty. As this policy unfolds, it will be crucial to monitor its impacts on U.S. businesses, consumers, and international relations, as well as its effectiveness in addressing the stated goal of combating the fentanyl trade.
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