Argentina is counting on the good relationship between its president, Mauricio Macri, and Mr. Trump. The United States and the European Union account for about one-third of world trade. Only a few years ago the United States and Europe were discussing the possibility of eliminating almost all trans-Atlantic trade barriers. The United States has already granted South Korea a permanent exemption as part of a revised trade deal. The direct impact of the tariffs on world trade, assuming they take effect, will be minimal, economists say.

Source: New York Times April 29, 2018 17:37 UTC