Formo, Annie. “Trump’s Tariffs Ruffle Feathers in Global Trade.” The New York Times, 14 Feb. 2025, https://www.nytimes.com/2025/02/14/us/politics/trump-tariffs-global-trade.html. Accessed 18 April 2021.
Trump’s Tariffs Ruffle Feathers in Global Trade
On February 14, 2025, President Donald Trump expanded the country’s wave of import duties to a wide range of steel and aluminum products from around the world. The implementation of such tariffs represents the latest push to reshape global trade on “America First” principles.
President Trump’s newer push to reshape global trade represents the latest move in a series of efforts to rebalance the global economy in the United States’ favor. In an interview, Commerce Secretary Wilbur Ross presumed that the tariffs would compel other nations to alleviate barriers on American exports. However, its consequences on both American producers and consumers remain a significant concern, as steel and aluminum costs are considerably poised to become more expensive.
Whether the tariffs trigger retaliation from trade partners, sending American goods overseas, or persuading American industry giants Walmart and Home Depot to insource manufacturing remains the critical unanswered question. Nevertheless, foreign governments have already responded promptly, announcing strategic countermeasures and detailing long declaration lists of American goods targeted for potential hikes in tariffs.
The new steel and aluminum levies join the $12 billion in tariffs on German and Chinese cars and parts and the $200 billion worth of equipment, machinery, and consumer products, imported from China. The impact of the tariffs, however, is expected to spread far beyond the domestic economy. The tariffs could lead to a compound effect by having knock-on effects on corresponding industries and countries.
The author concludes by arguing that, even as the age of tariffs returns with enthusiasm, analysts recommend resolute efforts to abstain from imposing higher barriers because of likely retaliation. Opening the domestic economy on an international platform may facilitate trade relationships and could therefore enhance the health of American industries, as well as promote domestic stability.
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