Trump Tariffs Herald Trade Chaos

U.S. President Donald Trump announcing a new round of tariffs on imports. Photo by Andrew Leyden / NurPhoto / NurPhoto via AFP

The Trump administration marked what it called “Liberation Day” with the imposition of sweeping tariffs on imports from numerous trade partners. The White House described the measure as rectifying “a lack of reciprocity in our bilateral trade relationships, disparate tariff rates and non-tariff barriers” imposed by foreign trade partners.

The tariffs will likely increase consumer prices in the United States, and countermeasures from trade partners could cause worldwide inflation and supply chain disruptions. Asian and European markets plunged on fears of a global recession.

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by CGSP Staff

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