The end of a Republican project - The Collapse of a Common Market
Import tariffs are a legitimate tool used by states to correct economic imbalances. All countries use them in one form or another, even if some, including the U.S., have chosen not to apply them to certain trading partners. The European Union operates as a common market, with zero tariffs on internal trade. Imports from outside the EU are taxed by each member state based on the type of product or service. Similarly, the U.S. created a common market with Mexico and Canada through the North American Free Trade Agreement (NAFTA), initiated by Republicans in 1988 (Ronald Reagan) and expanded in 1994 (George Bush sr.) and 2020 (by Donald Trump himself). The North American market became the third-largest in the world, after ASEAN and the EU. The sudden introduction of 25% tariffs on imports from Canada and Mexico for almost all product categories has led to the collapse of this common market, built by Republicans over decades. Before NAFTA The Trump administration’s decision does not me...