In the beginning of April 2025, President Donald Trump proclaimed new tariffs on foreign trade. Starting on April 5, a blanket tariff of 10% on all imports was enacted. Additionally, higher “reciprocal” tariffs were introduced for 57 countries in which the U.S. has significant trade deficits. For example, tariffs on Chinese imports will reach a staggering 54% starting April 9.
The administration stated that these measures aim to address the national emergency posed by the large and persistent trade deficit, along with policies such as negotiation sabotage and currency manipulation. In response, several countries announced retaliatory measures. China, for instance, imposed a 34% tariff on U.S. goods and stated it would “fight to the end” against the U.S. actions. The European Union also proposed tariffs on U.S. imports.
These tariffs have led to economic discussions and legislative actions within the nation. A bipartisan group of U.S. senators introduced the Trade Review Act of 2025, seeking to reassert Congressional authority over trade policy by requiring the president to notify Congress of new tariffs and obtain approval within 60 days.
Economists have expressed concerns about potential economic impacts, including the risk of stagflation—a combination of stagnant growth, rising inflation, and high unemployment. As the situation develops, the global economic community continues to monitor the effects of these tariffs on international trade and domestic economies.
References:
https://apnews.com/article/china-us-tariffs-trade-trump-b5010acb08114304d8c36267b47eda13
https://www.theguardian.com/us-news/2025/apr/03/senators-bipartisan-bill-trump-tariffs?utm
https://www.vox.com/politics/407296/stagflation-trump-tariffs-recession-inflation-risk-odds?utm