Trump’s tariff gamble: ‘it won’t be easy’ – A nation braces for economic shock
In a bold and controversial economic maneuver, President Donald Trump has launched what he calls an “economic revolution,” implementing sweeping tariffs on a majority of US trading partners. The move, which took effect on April 3, triggered the most severe stock market crash since the height of the COVID-19 pandemic and sent shockwaves through the global economy. Trump, however, has doubled down on the decision, warning Americans that the road ahead will be difficult but promising that the outcome will be “historic.”
In a Truth Social post on April 5, the president acknowledged that Americans would need to “hang tough” through the economic turbulence brought about by his new protectionist measures. “It won’t be easy, but the end result will be historic,” Trump wrote. “This is an economic revolution, and we will win… We will make America great again.”
Trump’s announcement marks the most aggressive use of tariffs since the 1930s, targeting countries that together comprise the bulk of America’s trade partnerships. China, which bore the brunt of the new US trade barriers, swiftly responded with a 34% levy on American exports. Other nations are expected to follow suit in what economists fear could spiral into a global trade war.
Financial markets responded immediately and unfavorably. The Dow Jones Industrial Average fell over 1,200 points in a single day, its worst performance since early 2020. Technology and manufacturing stocks were particularly hard hit, as investors began pricing in a........
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