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Trump Tarrifs
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Tariff Implementation: On April 2, 2025—dubbed "Liberation Day"—President Trump imposed a 10% universal import duty on all goods entering the U.S., with even higher rates for 57 specific trading partners.
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Economic Impact: These tariffs have led to increased consumer prices, stock market volatility, and rising fears of a U.S. recession.
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Global Response: Key U.S. trading partners, including China, Canada, and the European Union, have condemned the tariffs and announced retaliatory measures, heightening global trade tensions.
In April 2025, President Donald Trump introduced sweeping new tariffs as part of a major push to address trade imbalances and stimulate domestic manufacturing. The initiative, launched on April 2 and called "Liberation Day" by the administration, placed a 10% universal import duty on all goods entering the United States, with significantly higher rates targeting 57 specific nations.
The economic consequences were swift and sharp. American consumers began seeing price hikes on imported goods, from food to electronics. Financial markets reacted negatively, with increased volatility and concerns that the tariff-driven inflation could lead to a potential recession.
The global reaction was equally intense. Countries such as China, Canada, and EU member states denounced the tariffs as protectionist and harmful. Several nations introduced retaliatory tariffs, raising fears of a full-scale trade war. In the UK, government leaders promised state support for domestic industries affected by the new U.S. policy, and companies like Jaguar Land Rover paused exports to America.
Despite criticism from economists and foreign governments, the Trump administration remains confident in its strategy, claiming the tariffs will usher in a new “golden age” for American manufacturing. However, the short-term results point to increased economic uncertainty both domestically and globally.
https://fortune.com/asia/2025/04/05/trump-liberation-day-tariffs-no-leader-world-trade/
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