Protectionism alarm sounded with tariffs

Washington's move to raise consumer prices but won't bring back jobs: Experts

The sweeping US tariffs signal a return to protectionism that could trigger recession and global economic damage, warn analysts. While pitched as a manufacturing revival tool, experts say the measures will mainly raise consumer prices without bringing back jobs.

On Wednesday, US President Donald Trump announced 10 percent tariffs on all imports from over 180 countries and territories, and higher rates on many trading partners.

The stark reaction to Trump's broad tariffs was reflected in the US stock market on Thursday.