Donald Trump has pushed US tariffs on foreign goods to the highest level since before the second world war as he enacts his sweeping protectionist agenda.
The wall of levies announced by the president since he took office again in January has taken the country’s effective tariff level to an estimated 17.3 per cent, according to Yale University’s Budget Lab.
The figure, incorporating the latest deal agreed with the EU at the weekend, brings the total US levies close to the 20 per cent last seen during the widespread tariff increases in the years after the 1930 Smoot-Hawley Act.
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