Summary
Economists warn Trump’s sweeping global tariffs may raise consumer prices, weaken the U.S. dollar, and make the country less attractive to investors.
The 10% baseline tariff on nearly all nations, 20% on the EU, and up to 54% on China has triggered global market turmoil and prompted retaliation from China.
Experts say the U.S. risks eroding its economic influence and repeating protectionist mistakes from the 1930s.
Despite backlash, Trump insists the tariffs are permanent. Critics argue this shift could destabilize globalization and diminish America’s financial leadership in the world economy.