Trump’s decision to impose tariffs on several countries has shaken the entire world. However, this isn’t a move the president of one of the most powerful economies would make in haste. On the contrary, his plan to strengthen the US economy through these measures is something he has been discussing for years.
The tariffs have impacted a number of nations – from ones he considers enemies to those he sees as friends.
America imposing a 10% tariffs on nearly all imports, starting Friday night, is something Trump considers a “declaration of economic independence.”
During a Rose Garden ceremony before signing the tariffs through an executive order, Trump declared, “We’re standing up for the American worker, and we are finally putting America first.”
Saying he’s aware he would face resistance from “globalists” and “special interests,” he asked his people to trust his judgement.
“Remember, every prediction made by our opponents about trade in the past 30 years has been utterly wrong,” Trump stated.
“April 2nd 2025 will forever be remembered as the day American industry was reborn. America’s destiny was reclaimed and the day that we began to make America wealthy again. For decades, our country has been looted, pillaged, raped and plundered by nations near and far, both friend and foe alike.”
“Americans really suffered gravely. They watched in anguish as foreign leaders have stolen our jobs, foreign cheaters have ransacked our factories and foreign scavengers that have torn apart our once beautiful American dream.
“Our country and its taxpayers have been ripped off for more than 50 years, but it is not going to happen anymore,” Trump said.
Experts believe that the tariffs, that start at 10% but are different for different countries – 53% on China, 20% on both the European Union and South Korea – will affect American buyers, resulting in higher prices and sparking a global recession.
According to Ken Rogoff, ex-chief economist at the International Monetary Fund, the risk of America falling into recession has risen to 50% following Trump’s decision.
“This essentially topples a nuclear device onto the global trading system,” Rogoff commented to the BBC, emphasizing the far-reaching effects of such tariffs on US import.
Further, the decision made by Trump’s administration to impose tariffs could escalate trade conflicts and strain relations with US allies like Japan and South Korea.
Despite the possible consequences, Trump expressed hope, saying, “Hopefully, in years to come, you will look back and realize we made the right choice.”
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