We now stand on the precipice of the United States implementing a universal tariff. Such a bold move could fundamentally redefine the future of global trade. From Day One, President Donald Trump has taken every opportunity to trumpet his administration’s opposition to economic globalization—a failure,

Yet the calls for making a deal from the EU, the U.K. and Japan indicated a lack of appetite for escalating trade tensions with the world's biggest economy and fear that slapping tariffs on U.S. goods will only make things worse.

As US President Donald Trump laid out a wave of new tariffs that will take average levies to their highest in more than a century, he drew cheers and laughs from aides and supporters in the White House Rose Garden.