Palm Beach, Florida ¨C Tariffs in the United States date back to 1789, when Alexander Hamilton saw them as a solution to two crises facing the newborn republic: a desperate need to raise revenue and a desire to industrialize a nation that seemed dangerously dependent on England.
But in modern times, they have almost always been a negotiating tool ¡ª economic coercion in the service of diplomacy, a cudgel to force other nations to the table. What makes U.S. President Donald Trump¡¯s move Saturday against Mexico, Canada and China different is that he seems uninterested in pursuing deals.
For now, at least, the tariffs, in his view, are the point, a means of bolstering the nation¡¯s finances as he simultaneously seeks territorial expansion and strategic advantage over an increasingly assertive China.
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