Commentary: Trump's tarrifs could spark global economic warfare

“Lower tariffs were the result of a series of compromises on trade, intellectual property and services in the 1990s. Undoing the trade compromises risk spilling over from trade to full-scale economic warfare. A 24% average weighted tariff is about ten times current US levels. The EU, Chinese and others will definitely consider going after America’s weaknesses including patents and services. American businesses could find themselves fighting a multi-front economic war with their own government on tariffs and everyone one else trying to protect their patents and services. 

"Another question that large economic powers could pose in response to these unilateral tariff actions could be around global capital mobility - going right to the core of globalisation."