Donald Trump has already raised the average tariff on America’s imports by about twice as much as he did in his entire first presidency. Just as damaging, though, has been the uncertainty about what comes next.
After April 2nd—“Liberation Day”, Mr Trump calls it—there will be another round of levies. The president promises 25% tariffs on all imported cars and country-by-country “reciprocal” tariffs based on how much his administration objects to a counterparty’s trade and tax policies. Will these plans change? Who knows? Mr Trump’s use of emergency powers means that he can do as he pleases.
This freedom may suit him. It does not, however, suit America’s businesses, which have no idea how bad the trade war will get; nor its consumers, who fear future inflation. The liberation America needs is from the paralysing uncertainty brought about by Mr Trump’s chaotic approach.
Since the president came to office, hefty tariffs on Canada and Mexico have twice been announced only to be mostly postponed. A long-threatened 10% levy on China has doubled in size.
The unpredictability of Trump’s tariffs will increase the painhttps://t.co/pstoI6GTl7
— Dennis Kendel (@DennisKendel) March 27, 2025
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