How Trump’s tariffs could reshape global trade dynamics [Video]

With a trio of executive orders, President Donald Trump has almost instantly thrown the world economy and his own goal of cutting inflation into turmoil.His tariffs against Canada and Mexico in order to stop illegal immigration and the illicit fentanyl trade led to retaliatory taxes by both countries on U.S. imports. He placed an additional 10% tariff on imports from China with the stated goal of stopping the production of fentanyl.But on a deeper level, Trump suddenly hit the U.S. economy with tax increases that, if sustained, could total more than $1 trillion in 10 years. He did so without congressional approval and by his own acknowledgement at the perilous chance of “some pain” in the form of higher inflation, job losses and worse growth.Here’s an explanation of what Trump’s executive orders say and how they work:What is the International Emergency Economic Powers Act?This is the 1977 law that helped …