Summary
Despite a temporary pause on some tariffs, economists warn Trump’s trade war continues to pose serious risks to the U.S. economy.
Current import taxes now exceed levels seen during the 1930s Great Depression. A Yale analysis estimates a $2.4 trillion tax increase over 10 years, costing households $4,400 more.
Tariffs on Chinese imports have reached 145%, driving up prices and investor anxiety. Markets briefly surged after Trump’s announcement but quickly fell again.
Critics highlight Trump’s deep misunderstanding of trade mechanics and fear long-term economic damage from persistent uncertainty.
I mean, even if Trump 180’s and/or they remove him,
Damage has already been done.
US proved they don’t have any protections/stopgaps/mechanisms/checks/balances in place and can just throw out trade agreements on a whim.
At any point, any person can take the president office and just upend everything at will.
The US government, as structured right now, is untrustworthy on the Global Stage. Their so called constitution / supreme court / congress / senate system has failed.
They ignored the UN / UN Security Council / Global Order in 2001 and invaded Iraq anyway. That opened the door for everyone else to arm up, and do their own thing now. US wasn’t going to respect that social contract, now no one else is either.
Now the US has upended Global Trade and shown they can’t be trusted in that either.
No one is putting their eggs in that basket anymore. The amount of reputational damage is unquantifiable.,
Trump has exposed the severe cracks in the American legal system.