When Donald Trump’s tariffs are talked about, you may recall his “Liberation Day” duties on uninhabited islands, his on-again, off-again threats in opposition to Canada, or the curt letters he has despatched overseas leaders informing them of imminent charges. These country-level tariffs dominate consideration. So it’s straightforward to neglect that the steepest tariffs Mr Trump has to date carried out are on merchandise, not international locations. And by all indications extra of those “sectoral” tariffs are coming quickly.
