TRUMP’S TARIFF GAMBLE: A PATH TO GLOBAL RECESSION?
U.S. AND ALLIES TOO FACING LONG-TERM INSTABILITY
2025-04-05 10:49
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President Donald Trump’s declaration of April 2, 2025, as “Liberation Day” marked a seismic shift in U.S. trade policy, with the imposition of sweeping reciprocal tariffs that have sent shockwaves through the global economy. The new measures include a universal 10% tariff on all imports, with punitive rates as high as 54% for China, 46% for Vietnam, and 20% for the European Union, alongside a separate 25% levy on foreign-made automobiles. Framed as a corrective to decades of “unfair” trade practices, the policy has been celebrated by the administration as a rebirth of American industry. Yet beneath the rhetoric lies a complex web of economic consequences, retaliatory threats, and a potential reordering of global trade dynamics that could leave the U.S. and its allies grappling with long-term instability.