Tariffs: Trump is rolling back America's progress

Multilateral economic cooperation based on World Trade Organization (WTO) rules is now just a distant memory. Starting Thursday , America will introduce new tariffs that are the result of the will, if not the whim, of one man: Donald Trump. This is what the president signed this weekend.

For many countries and their businesses, this is a real tragedy. Brazil will pay a 50% tariff on approximately half of its exports to the United States, effectively excluding it from the market. The Swiss will have to accept a 39% tariff, India a 25% tariff, and Canada will pay a 35% levy when introducing its products to its powerful southern neighbor. South Africa faces a 30% tariff, Serbia a 35% tariff, and Algeria a 30%.