In a surprising twist to global trade, steep and unilateral tariff policies are sparking a major shift away from long-held economic rules. The Bretton Woods system, set up in 1944 on a 'rules first' principle, once gave the US a leading role. Today, however, its tariff tactics have ignited backlash—from boycotts of American products to legal challenges in the WTO. This rise in reciprocal tariffs is shaking up how nations interact on the trade stage. 😮
The ripple effects are clear: markets are jittery, supply chains are under strain, and the push for a more balanced economic order is growing stronger than ever. As trade talks become high-stakes bargaining battles, the global community seems ready to embrace cooperation over unilateralism. 🌍 Stay tuned as the world navigates this evolving economic landscape!
Reference(s):
cgtn.com
