When Donald Trump’s tariffs are talked about, you would possibly recall his “Liberation Day” duties on uninhabited islands, his on-again, off-again threats in opposition to Canada, or the curt letters he has despatched overseas leaders informing them of imminent charges. These country-level tariffs dominate consideration. So it’s simple to overlook that the steepest tariffs Mr Trump has up to now applied are on merchandise, not nations. And by all indications extra of those “sectoral” tariffs are coming quickly.
