Former US Commerce Secretary: It's very difficult to remove Trump's tariffs

On November 19th, the former US Secretary of Commerce, Raymondo, stated that the tariff policy implemented by Trump is likely to persist even after his term concludes. This is because politicians are concerned that once these protectionist barriers are removed, they will offend those who are worried about job outsourcing and the replacement of workers by AI. Raymondo further explained that regardless of which party is in power in the future, the political cost of repealing tariffs is extremely high. "Once tariffs are imposed, it is difficult to remove them. No one is willing to be accused of betraying American workers. Tariffs serve to protect American workers, and I believe this has become more politicized in the context of AI development." The CEO of Goldman Sachs, Waldren, agrees with this view and adds that the labor environment is expected to become more complex next year, which will further intensify this political sensitivity. (FXStreet)