Trump Plows Ahead with New Tariffs that Could Surpass What He Did in His Entire First Term.
Donald Trump's latest tariff deadline arrives tonight, with potential new duties on America's top three trading partners starting tomorrow morning. The promises could match or surpass the economic toll of his entire first term if he keeps them in place. The president is imposing 25% duties on Canadian and Mexican imports following a 30-day pause, and also implementing a second round of 10% duties on Chinese imports to increase the blanket tariffs on that nation to 20%.
- This escalation could be a turning point in the global trade war, with far-reaching consequences for industries reliant on imported components, from electronics to automotive manufacturing.
- Will the economic costs of these new tariffs ultimately outweigh any potential benefits to domestic industries, particularly in the short-term?