Tariff Turmoil

The article discusses the escalating economic conflicts and the potential formation of rival trade and currency blocs, drawing parallels to the conditions that preceded World War II in the 1930s. It highlights the intensification of trade wars, particularly between the US and China, characterized by tariffs, export controls, and investment restrictions. These measures are disrupting global supply chains and leading to a fragmentation of the world economy. Furthermore, the article points to the growing use of economic sanctions as a tool of foreign policy, further exacerbating tensions and hindering international cooperation. The war in Ukraine has accelerated these trends, prompting discussions about alternative currency systems and payment mechanisms to bypass the US dollar. The author suggests that these developments are not isolated incidents but rather symptoms of a deeper crisis in the capitalist system. As global economic growth slows and inequalities widen, countries are increasingly resorting to protectionist measures and geopolitical rivalries to protect their own interests. The article warns that these trends, if unchecked, could lead to a more fragmented and unstable world order, increasing the risk of military conflict. find the original article here: https://www.wsws.org/en/articles/2025/04/12/wqnk-a12.html