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The constraint in any tariff regime is the counterparty list: its width determines how much of global trade volume gets repriced and how much arbitrage corridor remains for importers to work with.
President Trump on Friday launched a new round of tariffs covering 60 trading partners, a sweep that includes the European Union, China, and the United Kingdom.
The breadth of that list is what separates this action from earlier rounds. What the coverage means for physical flows Sixty counterparties is a wide net by any recent standard.
alone represent some of the highest-volume bilateral trade relationships the United States maintains.
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