The US is declaring trade war on the rest of the world. After imposing additional tariffs of 10% on Chinese products, then 25% on aluminum and steel, US president Donald Trump went one step further, announcing from the White House on Thursday, February 13, the introduction of "reciprocal tariffs" on all imported goods.

"If they tax us, we tax them the same amount," said Trump, adding, "it's fair to all. No other country can complain." Just three weeks after his inauguration, Trump is erecting protectionist barriers around the world's leading economic power unlike any seen during his previous term.

"This is the start of a full-scale trade war," predicted Sébastien Jean, Professor of Economics at France's National Conservatory of Arts and Crafts, "especially as the US is no longer respecting its commitments on fundamental principles of the World Trade Organization." These principles include the prohibition of partner-based tariffs, to avoid discrimination, but also the respect for differential treatment according to a country's level of development, with poorer countries needing greater protection or preferential export conditions.

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