The Quiet Damage of Trump's Tariffs
Trump's tariffs have been quietly damaging the US economy by causing a decline in manufacturing output, blue-collar employment, and higher costs for some producers, even if consumers may not notice it immediately. The early tariffs imposed by Trump did harm specific industries, such as solar panels and washing machines, but also had broader economic implications that were largely unaddressed during his first term. However, the damage from those early tariffs can be more widespread now, given Trump's plans to impose even higher tariffs in his second term.
- The hidden cost of Trump's tariffs may be felt by US consumers who benefit from cheap imported goods, making them unknowingly complicit in the economic harm caused by the trade policies.
- How will the global supply chains and economies adapt to the potential return of a more aggressive tariff regime under President Trump?