Overview

• President Trump has announced plans to impose tariffs on over $2 trillion worth of imports, covering two-thirds of all foreign goods purchased in the U.S.
• Key targets include China, Mexico, Canada, and the European Union, with proposed tariffs ranging from 10% to 60%, starting as early as February 1.
• Businesses worldwide, including manufacturers in China and auto companies in Mexico, are bracing for significant impacts, with some industries predicting major losses or operational changes.
• Trump aims to use tariffs to achieve broader goals such as funding tax cuts, curbing illegal immigration, and addressing global trade imbalances.
• Economic experts warn of heightened risks compared to Trump's first term, citing inflation concerns, fragile supply chains, and weakened opposition from global trading partners.