President Trump announced sweeping levies on countries across the world. The tariffs create a dilemma for longstanding friends — and an opportunity for foes.
The president did not reveal the details of his plan to impose reciprocal tariffs the same day, but suggested he would move ahead with import taxes on trading partners.
President Trump’s approach to tariffs has unsettled many corporate leaders who believed he would use the levies as a negotiating tool. As it turns out, he sees them as an end in themselves.
China’s exports to developing markets have soared, opening indirect routes to the U.S. market that officials in Beijing worry may be closed under pressure from President Trump.
The president offers many reasons for imposing tariffs, including revenue, leverage over competitors and job creation. But history suggests a more complex history.
The president still believes that his protectionist trade policies will be “great for us” in the long run, but won’t rule out short-term economic pain.
President Trump said that Americans would be better off in the long run from his tariffs, which he said would prevent the country from being “ripped off.”
The electric car company led by Elon Musk builds all the cars it sells in the United States in California and Texas, shielding it from tariffs that could devastate competitors.
Corporate chiefs see “chaos,” and investors see red as the effect of President Trump’s shifting trade policy begins to weigh on board rooms and trading rooms.
In his address to Congress, the president made clear that his new trade levies were here to stay, acknowledging it might create “a little disturbance.” Analysts forecast what that might look like.
Trade wars during President Trump’s first term slashed billions of dollars in U.S. agricultural exports. Farmers and trade groups expect an even bigger hit this time.
Prime Minister Justin Trudeau of Canada warned that the Trump administration’s tariffs were leading to a trade war. Mexico’s leader vowed to impose countermeasures on Sunday.
Importers will have to make changes to pay new tariffs on goods from Canada, Mexico and China, and government agencies will need more resources to enforce the fees.