Overview

• President Trump has implemented a series of tariffs, including 25% levies on imports from Canada and Mexico and a 20% tariff on Chinese goods, citing national security and trade fairness.
• China, Canada, and Mexico have responded with retaliatory measures, including new tariffs on U.S. goods and expanded export restrictions, heightening global trade conflicts.
• Economists warn that the trade war could raise consumer prices, disrupt markets, and create uncertainty for businesses, potentially delaying hiring and investment.
• Trump has proposed 'reciprocal tariffs,' aiming to match other countries' import taxes and address non-tariff barriers like intellectual property theft and digital services taxes.
• The escalating trade disputes have drawn criticism for their potential to harm U.S. manufacturers and farmers, with concerns about long-term economic impacts and strained international relations.