President Donald Trump’s tariffs have caused economic chaos in the United States and abroad.
On Wednesday, he announced tariffs on almost all imports at least 10%, with dozens of countries facing higher interest rates.
The stock market’s response to opening Thursday fell, and by the afternoon, the S&P 500 fell more than 4%.
Some countries, Including Chinaretaliation measures have been promised. Other U.S. trading partners, Including Japanis seeking negotiations with the Trump administration.
But if the tariffs remain the same, U.S. consumers are expected to pay more for everything from cars to sneakers to groceries soon.
From Automobile manufacturing arrive drug Always seeking a response. Producer of Chrysler Pacifica Minivan and Dodge’s electric charger Daytona It has been temporarily closed It is one of its factories in Canada, just across the border of Detroit. The same goes for Whirlpool Announced layoffs Iowa had 650 American workers on Thursday, citing the U.S. economic situation.
Among the economic uncertainty caused by tariffs, it is obvious that the global trade war may have just begun. These are some of your key questions about tariffs.
What goals does Trump actually hope to achieve?
Trump celebrated April 2, the day of tariffs, as a “liberation day.” That’s because he sees tariffs as the “Declaration of Economic Independence” and as a means to restore American manufacturing Say at the Rose Garden Event Wednesday.
“Our country and its taxpayers have been deprived of for more than 50 years, but that won’t happen again,” he said. explain. “We finally put America first.”
His hope is that when importing foreign goods is more expensive, companies will seek investments to bring their production to the United States, allowing American consumers to lower prices in the long term. He also claimed that tariffs would prevent other countriesCheatingU.S. trade imbalance.
Economists believe tariffs won’t achieve these goals. economist Tax tariffs Based on a “completely confusing” understanding of the economy and history, “the deepest, harmful and unnecessary economic errors of modernity”.
one, formula Used to determine the “countdown” tariff involves allocating a country’s trade surplus to the total U.S. exports. Then divide this number into half to reach the tariff rate.
That’s not More tailored approach The government has surfaced before, which will take into account a range of complex factors. It also ignores the fact that many countries have trade surplus with the United States They are relatively poor And unable to buy goods made in the United States.
Do Americans support this move?
Trump’s recognition level is Fall to the lowest point Ever since he served in the tariff craze. And Trump’s Immigration policies remain relatively popularIn his overall accreditation hierarchy, this is not the case with his economic policy.
Polls conducted last month show 37% and 45% Americans agree with Trump’s economic performance. Most Americans said in a March 27 CBS News/YouGov poll that Trump focused on tariffs and was not enough to lower prices. one A separate YouGov poll Shortly after Trump’s tariffs were announced, most Americans disapproved of tariffs, which was 40%.
Which products will be affected the most?
Perhaps the more appropriate question is what product Accustomed to Affected, given that many U.S. manufacturers rely on imported goods and are expected to increase costs to U.S. consumers.
Trump has Announced 25% tariff On all foreign assembled cars and plan Introduce other tariffs On some auto parts, including the engine and gearbox.
Given the attention paid to the tariffs of the country, China, Taiwan and South Korea, the prices of consumer electronics will also rise significantly, which is the main producer of TVs, mobile phones, etc.
As China, Vietnam and Bangladesh (all major exporters) now face steep tariffs, clothing and shoes may also become more expensive.
What does this mean for the U.S. and the global economy?
White House warns Trump’s tariffs Cause short-term pain – This is what the United States is getting, and in the long run, there is no guarantee that there will be a return.
Dollars have Value drops For other benchmark currencies. Economist Project Tariffs will cause the disposable income of ordinary households in the United States to fall by $3,789, while U.S. economic growth fell by 0.87% in 2025. JPMorgan makes the chance of recession from 30% to 40% Between the beginning of the year and March 31, there are concerns about the impact of tariffs.
The global economy is also rolling up. Inventory index declines Thursday globally. Few countries suffer as many countries as Cambodia and Vietnam, many American companies from Nike to Apple have Mobile manufacturing. It is worth noting that Trump did not strike Mexico or Canada Additional tariffs announced earlier this year exceeded those announced.
Why are Russia and North Korea exempted?
Russia and North Korea are also not on the list of countries facing additional tariffs, which is exactly why there are some mystery.
There is a White House It is reported They “already face extremely high tariffs, and the sanctions we have previously imposed exclude any meaningful trade with these countries.”
However, other countries facing a lot of sanctions, Including Venezuelahit by additional tariffs.
Similarly, the U.S. deal with Russia is some of the remote islands compared to other countries that have not been spared. U.S. imposes economic sanctions on Russia after Russia’s 2021 invasion of Ukraine, which has led to a decline in trade between the two countries from about the same time Last year, $35 billion to $3.5 billion. Currently, Russia is negotiating to lift these sanctions as part of an agreement to end the Ukrainian war.
