Is it just the historical legacy of international trade that tariffs apply only to physical goods, but not to something like software-as-a-service subscriptions, digital media, or intellectual property?
As the latter categories are more representative of US exports, it would surely be an interesting escalation if other countries were to start including them in their “retaliatory” tariffs.
As the latter categories are more representative of US exports, it would surely be an interesting escalation if other countries were to start including them in their “retaliatory” tariffs.