The U.S.-U.K. deal shows the trade war is here to stay

But U.K. imports will continue to carry a 10% tariff, up from a pre-Trump average of 1.3%. The president referred to that as the "lowest end" import tax.

With 10% import taxes looking like the new minimum — and other countries with more contentious trade relationships likely to continue seeing significantly higher tariffs — there will be serious sand in the gears of global commerce for the foreseeable future.