President Trump reached a deal with Canada and Mexico to restructure the North American Free Trade Agreement, hoping a new trilateral accord will reinvigorate the U.S. manufacturing sector.  

President Trump’s decision to levy tariffs on China highlights concern about the ongoing role of the WTO and the future of global trade rules.

Tariffs have been applied over the years to protect homegrown industries and target competitors who are seen as using unfair trade practices. They impose costs on both importers and exporters and had been in decline until the recent U.S.-China trade war.