Trump imposes tariffs on Foreign Imports from all over the World
Leave it to Trump to get everyone effectively schooled on Tariffs, plunge financial markets and make money, all in one breath.
On 2nd April 2025, President Donald Trump announced his horde of tariffs on imports to the US, sending waves of economic upheaval throughout the world. The tariffs targeted a baseline of 10% for every country across the world from China to the European Union to the ‘obscurest’ and some of the poorest countries in the world. Certain countries were subject to further import duty charges, chief among which was China who were slapped with about 145%, and 25% on EU’s steel, aluminium and cars. According to him, his aim was to cause the ‘economic liberation’ of the United States.
Effects of The Tariffs
Stocks plunged after Trump’s announcement of the tariffs, and billions of dollars were wiped off market share prices by the second. Oil prices dropped from an average of $74 at the end of March to upwards of 60 dollars after the reciprocal tariffs were announced.
Europe responded with their retaliatory tariffs of more than 25% on some 400 US imports; the top five being oil and gas, pharmaceuticals and medicines, aerospace products and parts, medical equipment and supplies, and motor vehicles. 1300 more products were earmarked by them for addition. This included toilet paper, eye makeup, cigars and tobacco, men’s and women’s clothing. China also announced their counter tariffs of up to 125% on all US goods into China.
There was an about-turn announced by the US customs for smartphones, computers and other electronic devices from China into the USA. However this was denied by Trump saying that these would merely be migrated into a different tarsuspend other countriesiff bucket. Trump however recently self-proclaimed a 90-day pause on all his tarriffs, reportedly to suspend counter-measures from other nations other than China.
Meanwhile, Chinese president Xi Jinping visited Vietnam, Malaysia and Cambodia; countries in South East Asia building a poignant narrative as a more reliable Trade partner than Trump. If this narrative sticks, will the US remain the powerful force of the global world economic stage? Nigeria for example is embarking on a nationwide Chinese language education. Where does this leave the US in the near future?
A case of Economic Freedom or of Profiteering
Meanwhile some have sworn that Trump’s Tariff Battle is very much artificial to help stocks to dip so that he and his rich associates can make more money off everyone else.
