Americans’ Reactions to Trump’s Tariffs Range From Worried to Enthusiastic
Critics warned that the levies could fuel inflation and slow economic growth, while those who supported the move said it was long overdue.
Critics warned that the levies could fuel inflation and slow economic growth, while those who supported the move said it was long overdue.
The 34 percent tariff announced on Wednesday is in addition to two rounds of import taxes the president already imposed since January.
The answer appears to begin with the total trade deficit America runs with its trading partners.
Two dozen trade experts gathered recently to simulate how a global trade war would play out. The results were surprisingly optimistic.
Trump’s supporters have clashed over the true goal of forthcoming global tariffs: raising revenue, or lowering foreign trade barriers?
Treasury Secretary Scott Bessent argues that the American dream is about more than cheap televisions, but inflation-weary consumers might disagree.
President Trump unveiled sweeping tariffs that included so-called reciprocal actions on dozens of other countries at very high levels.
A measure to cancel some Canadian tariffs is all but certain to stall in the House. But with a handful of Republicans in favor, the vote sent a signal of opposition to the levies.
The president said the charges, at least 10 percent on nearly all trading partners, would restore fairness, but experts warned they could destabilize the world’s economy.
President Trump announced sweeping levies on countries across the world. Washington’s partners have been bracing for the fallout.