Between 2017 and 2021, Donald Trump had the world on a precipice, bracing for his next move, gaming out whether his bluster was a bluff, an overture to a deal or a break with history, as he sowed mayhem to push adversaries off balance.

The president-elect’s threat to hit Canada, Mexico and China with new tariffs is already rocking business and diplomatic relationships and could topple the trade pacts he signed in his first term.

I’m Chris Anstey, an economics editor in Boston, and today we’re looking at the intentions behind the president-elect’s tariff threat. Send us feedback and tips to [email protected] or get in touch on X via @economics.

Reaction to Trump's day one promise to slap tariffs on three of the America's key trading partners: Mexico, Canada and China. The president-elect framed the proposal as a response to the fentanyl crisis.