Jeremiah Osei
President Donald Trump has declared April 2, 2025, as "Liberation Day," a day for announcing new tariffs to reduce the U.S.'s reliance on foreign goods. According to USA Today, Trump's plan to announce tariffs on Wednesday targets all countries to curb foreign goods, potentially raising prices but encouraging U.S. investment. Trump claims his tariffs won't just target nations that contribute most to the U.S. trade deficit.
“You’d start with all countries,” Trump told reporters aboard Air Force One Sunday night. “There’s not a cutoff.” Trump's Goal with this is to force the U.S to Export and produce things more domestically. Trump’s remarks provided clarification on the scope of the tariffs after Treasury Secretary Scott Bessent recently said that 15% of nations with persistent trade imbalances with the U.S. would be most impacted by the tariffs. Bessent has called these the “Dirty 15” countries. How this will affect the geopolitical ramifications of Trump's tariff policies has been significant. By taking a more aggressive stance on trade, the U.S. under Trump distanced itself from long-standing allies and international trade agreements. The administration’s "America First" approach led to tensions within the World Trade Organization (WTO) and a reevaluation of multilateral trade agreements like the Trans-Pacific Partnership.
Site :https://www.usatoday.com/story/news/politics/2025/03/31/trump-tariffs-liberation-day-live-updates/82731267007/
The success of these tariffs will depend on if Trump can diplomatically and economically use them to mitigate potential drawbacks such as retaliatory tariffs. It will be important to follow how Trump utilizes them on this "Liberation Day" and if he can implement them effectively or if he will continue to incite more unease in the markets.
ReplyDeleteIt seems to be that the strategy of tariff implementation is almost worse than the tariffs themselves. One must wonder how they would have been reacted to if the presentation wasn't so harsh
ReplyDeleteTrump has stated that he is imposing these tariffs with the goal of increasing American jobs and I'm all for creating more jobs but I don't know how I feel about tariffs being the segway to creating those jobs. I feel like these tariffs will do more damage to our economy than good but I suppose, only time will tell.
ReplyDeleteThis is interesting because Trump is utilizing this "brute force" method of imposing high tariffs on imports so production can be moved to the USA. This approach is extremely aggressive and I don't like the way it's being carried out.
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