Trump’s Tariff Policies Hitting US Economy Hardest, Analysts Say
In the latest edition of Explained’s weekly column “GDP: Graphs, Data, Perspectives,” Udit Misra examines how tariffs imposed under President Donald Trump are affecting the United States, as well as global trade partners like China. The economic strain may also explain recent high-level meetings aimed at resolving trade tensions.
Since taking office, President Trump has used tariffs as a key tool to advance his “Make America Great Again” agenda. However, recent research from the Yale Budget Lab indicates that the measures may be backfiring. The study shows that the U.S. economy itself is bearing the brunt of these tariffs, with adverse effects across multiple sectors, even more so than some of the targeted countries.
Economists warn that while tariffs were intended to protect domestic industries, they have contributed to rising costs for American businesses and consumers, potentially undermining overall economic growth.
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