President Trump has continued with his decision to enact tariffs on global imports following the announcement of his economic agenda to return manufacturing and business to America, address an emergency situation, stop the flood of illegal aliens, and protect American national interests.
In Jan. 2025, Trump released plans to impose tariffs on imports from Canada, Mexico, and China. In The White House Fact Sheet, the sheet makes reference to a variety of the tariff’s goals including “addressing an emergency situation and the extraordinary threat posed by illegal aliens and deadly drugs, using leverage to ensure American’s safety by using America’s global economic position, Trump’s promise to stop the flood of illegal aliens and drugs, and building on past successes.”
The sheet also cites the sustained influx of illegal aliens into the nation and how the access to the American market is a privilege. The tariffs will remain until the crisis is averted.
On Feb. 1, 2025, Canada retaliated against the tariffs and announced two rounds of tariffs that targeted US exports. On Feb. 3, the tariffs on Canada and Mexico were put on hold for 30 days as Canada pledged to implement plans to secure the northern border to address fentanyl trafficking, and Mexico agreed to send more national-guard members to the Southwest border.
After 30 days, on Mar. 4, 2025, US tariffs officially went into effect. Trump imposed 25% tariffs on Mexican imports, 10% tariffs on Canadian oil and energy products, and 25% tariffs on remaining Canadian imports.
Canada subsequently retaliated against the tariffs on US farm exports and more.
Trump also plans to enact reciprocal tariffs on other nations that put trade barriers to US goods on Apr. 2, 2025 in order to match other nations’ rates.
According to a CNBC article on Trump’s tariffs, Trump said, “I’m not going to bend at all, we’ve been ripped off for years, and we’re not going to be ripped off anymore. There’ll be little disruption, but it won’t be very long.” Trump is seeking to retaliate against nations who retaliate against his actions, essentially engaging in a trade war with any nation that responds to his high tariff demands.
Trump’s initial decision to engage in a trade war has left American citizens concerned of the short-term consequences of the tariffs. The concerns mainly surround the effects of the tariffs as analysts and experts say the tariffs are “sowing chaos” in the market.
According to a CNBC “Fed Survey,” experts warn of slower economic growth and a risk of a US recession. Mark Zandi, chief economist at Moody’s analytics, said, “A global trade war, haphazard DOGE cuts to government jobs and funding, aggressive immigrant deportations, and dysfunction in DC threaten to push what was an exceptionally performing economy into recession.”
While there are some positives to increased tariffs such as boosting manufacturing and businesses affected by foreign tariffs, the multitude of short-term consequences does not seem worth it.
EHS senior, Dayne Riddle, said “I think the tariffs may have some long-term benefits, promoting business and employment within the US. However, for the short term, I think they will drive up the cost of goods and economic stability.”
In recent years, tariffs have been typically used for the same goal to boost economic growth within the US, but it’s important that the government does not over-do it. “The options of tax cuts and deregulation are far better for promoting domestic manufacturing, Tariffs are likely to upset the American people, causing significant problems and not allowing the full course to run,” added Riddle.
Only time will tell if Trump’s current economic plan will result in the return to economic wealth for the US but the current outlook is bleak as the market continues to take a hit. Trump also commented that in order for wealth to be brought back to America, “it will take a little time.”
