Trump's First 100 Days as President

In the first 100 days of his presidency, Donald Trump has made significant moves in the realm of international trade, introducing tariffs on goods from multiple countries. These tariffs, aimed at protecting domestic industries, have affected goods from China, Japan, South Korea, South Africa, Malaysia, Serbia, Canada, Mexico, and more.

In addition to these country-specific tariffs, Trump has also announced a general 10% tariff on imports from all countries, set to take effect from April 2025. Higher individual tariffs, up to 125%, have been proposed for countries with large U.S. trade deficits, such as China, while targeted 25% tariffs have been announced for products from Japan and South Korea.

Trump's tariff policy is not just about protectionism; it's also about encouraging other countries to buy more goods from the U.S. and enticing foreign companies to build new factories in the country. By doing so, Trump claims, he is making America rich and creating new jobs.

However, these tariffs have not been without controversy. The U.S., a powerful nation spanning approximately 9.8 million square kilometers and consisting of 50 states, has seen its economy shrink in the first quarter of the year. Some experts attribute this shrinkage, in part, to the tariffs introduced by the Trump administration.

It's important to note that a tariff is a specific type of tax on imported goods. When goods from other countries enter the U.S., extra money is paid to the state as a result of these tariffs, making imported goods more expensive for Americans. High tariffs can increase the cost of imported goods significantly, potentially leading to higher prices for consumers.

Governments often impose tariffs to protect domestic companies from foreign competition. However, the impact of these tariffs on the overall economy and on consumers is a subject of ongoing debate. As the Trump administration continues to shape its trade policy, these discussions will undoubtedly continue.