Trump's 2nd, highest tariff rate since the Great Depression...the reorganization of world trade

The "Trump 2nd" forecast that U.S. tariff rates would rise to their highest level since the Great Depression and that the global trade system could be fundamentally reshaped.

The Wall Street Journal reported on the 16th local time that if former President Donald Trump, the Republican presidential candidate, fulfills his tariff pledge, global trade will look completely different.

Greg Yip, a columnist for the newspaper, said tariffs would be at the heart of Trump's policy beyond a negotiating tool in the second term, with some estimating they would reach the highest level since the 1930s.

Former President Trump said in a speech in Chicago on the 15th, "Tariff is the most beautiful word in the dictionary."

With 10% universal tariffs on all imports and 60% on Chinese goods, the average U.S. tariff rate jumps to 17% from 1.5% in 2016 and 2.3% in 2023, according to investment bank Evercore ISI.

This is the highest level in about 100 years and will rise from the lowest level of the major countries at the moment to the highest level.

Professor Doug Irwin of Dartmouth University pointed out that if other countries retaliate, global trade barriers will rise to unprecedented levels in modern times.

The Washington Post pointed out that Trump's tariff policy would isolate the U.S. economy like it was in the late 19th century.