The mechanics of trade wars

PARIS: With his penchant for tariffs US President Donald Trump is raising the spectre of a trade war of rare intensity, threatening partner nations with penalties that risk disrupting global trade.

While the US leader has delayed implementing some of his threats, he announced on Wednesday he was placing 25 per cent additional tariffs on cars and car parts entering the United States.

He has promised a further round on April 2, a date he has dubbed “Liberation Day.”

Ramp it...