Zero-sum is wrong answer to testing times

On April 2, United States President Donald Trump announced wide-ranging tariffs on the rest of the world. It immediately created a storm in the international economy. Stock markets began to take a steep dive, and the bond markets also began to fall. So strong was the reaction that Trump had to step down from his high horse. He announced that he was dropping his so-called reciprocal tariffs on imports for most of the US' trading partners to 10 percent for 90 days to allow for negotiations.

However, he did not do the same for China. The White House claimed some imports from China faced up to 245 percent tariffs after China reacted by putting additional 125 percent tariffs on imports of US goods.

This move by the US administration was motivated by the internal socioeconomic situation in the US itself on the one hand and on the other it is being used as a tool for that country to achieve some of its geopolitical objectives.