Trump’s Tariffs: A Boon or Bust for U.S. Economy?

U.S. businesses and consumers are bracing for impact as former President Donald Trump’s controversial 25% tariffs on steel and aluminum imports resurface in political debates. But could this ‘America First’ strategy backfire? We break it down.

The Tariff Tango: What’s at Stake?

Think of tariffs like a high-stakes game of Monopoly—except everyone’s money is real. Anthony Chan, ex-JP Morgan Chase chief economist, warns the move might ‘create more uncertainty than prosperity’ for businesses. ‘Planning becomes a guessing game,’ he says, comparing it to ‘trying to bake a cake while someone keeps turning the oven off.’

Everyday Americans in the Crosshairs

Low- and middle-income households could feel the pinch most, Chan notes. From cars to canned goods, higher production costs might trickle down to prices at Walmart, Target, and gas stations. ‘The collateral damage is severe,’ he says—imagine your Netflix subscription suddenly costing extra because… steel?

Global Ripple Effects

While the policy aims to boost U.S. steel production, experts say it’s like ‘using a band-aid for a broken arm.’ Overseas trade partners might retaliate, sparking a domino effect that could unsettle markets from Tokyo to Toronto.

Got hot takes on trade wars? Drop a comment—we’re all ears.

Reference(s):

How will Trump's tariffs game affect U.S. businesses and consumers?

cgtn.com