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OPINION – by Prof. Dr. Bruno COLMANT, member of the Royal Academy of Belgium
Donald Trump is imposing massive import tariffs on his three main economic partners and soon on Europe. Is this a permanent measure or merely a negotiating tool? No one knows.
But let’s imagine these tariffs become permanent. This will inevitably lead to imported inflation in the United States and a loss of efficiency and competitiveness. Indeed, protectionism provides relief for jobs and businesses in the short term. However, over time, it creates inefficiencies due to the lack of international competition, which is linked to the protection of import taxes. Moreover, for substitutable goods, this will result in fewer American imports, which should strengthen the...
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