The Globe and Mail reports in its Friday edition that the world is entering the era of baseline tariffs. A Globe editorial says that in street terms, it's a shakedown. Mr. Trump is using the United States' economic muscle to force countries to swallow punitive trade terms in exchange for access to its markets, at the risk of harm if they do not submit. Japan this week signed a provisional agreement under which its exports to the U.S. will be tariffed at a baseline of 15 per cent, rather than at the 25 per cent Mr. Trump threatened to impose on that country if it did not reach a deal by Aug. 1. On Thursday, the European Union was poised to strike a similar 15-per-cent deal. In exchange for a less punishing tariff rate, Japan will open its market to more American goods, at least according to Mr. Trump's description of the deal. The 15-per-cent tariff will also apply to Japanese cars, which were hit with the 25-per-cent tariff Mr. Trump imposed on all cars and car-part imports in April. To date, Washington has taken $100-billion (U.S.) out of the pockets of American businesses; the total is expected to reach $300-billion (U.S.) by the end of the year. And the future of the U.S. economy is getting foggier by the minute.