**Trump’s Tariff Tsunami: Navigating the Uncharted Waters of US Trade Policy**
As President Donald Trump resumes his aggressive stance on tariffs, the global economy is bracing for a significant shift towards protectionism, marking the most substantial such move in over a century. Trump’s strategy involves imposing new tariffs and threatening others to gain leverage in ongoing disputes, a dramatic departure from the trend of reducing trade barriers observed globally.
### Trump’s Tariff Timeline
Trump has been busy since returning to office, implementing a series of tariffs:
– **China:** He initially introduced a 10% tax on all Chinese goods, which was doubled to 20% just a month later.
– **Canada and Mexico:** A blanket 25% levy was imposed on most of their imports, followed by a series of exemptions.
– **Steel and Aluminum:** A 25% tariff took effect on March 12.
– **Auto Imports:** Plans are in place to tax fully assembled vehicles starting April 3, with major parts to follow by May 3.
### What’s Next?
Potential targets for new tariffs include **semiconductors, pharmaceuticals, food products, and copper**. Additionally, Trump has vowed to impose **reciprocal tariffs** on the European Union, amid threats of higher duties on EU goods.
### The Motivation Behind Trump’s Tariffs
According to Treasury Secretary Scott Bessent, Trump is using tariffs to:
1. **Remedy unfair trade practices** to revitalize American industries.
2. **Raise revenue** to fund tax cuts.
3. **Serve as a diplomatic lever** in place of traditional sanctions.
As the world awaits the “big one” on April 2, the consequences of these policies are still uncertain. Will they achieve their intended goals, or will they propel the global economy into uncharted and potentially volatile territory?
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