Daniel Shin

After returning to office, U.S. President Donald Trump has swiftly kept good on his promise for new tax policies and steep new tariffs, making them a central focus of his global agenda as leverage in international trade negotiations. America is indeed back, cracking a whip on its top competitor, China, as well as longtime U.S. allies. If nations retaliate on Trump's tariffs, the impact will be huge.

Taxes are fundamental to the functioning of society. Taxes provide revenue for essential services like health care, education, infrastructure, defense and public safety. Taxes also help the redistribution of wealth. Through progressive taxation, governments aim to reduce income inequality by redistributing wealth and funding social welfare programs for those in need. Taxes enable governments to invest in the economy, manage public debt and stabilize financial systems.

Taxes are a collective effort that supports shared goals and responsibilities, fostering a sense of contribution to society's well-being. Taxes are supposed to promote fairness by discouraging harmful behaviors while encouraging beneficial ones with tax credits.

However, Trump's tariffs best serve the key national interests of the U.S., not others. Tariffs are complex tools, and........

© The Korea Times