100 Days In: Trump’s Trade War and Its Fallout
Celebrating 100 days back in office with his usual flair, Donald Trump defended his aggressive trade war, despite rising costs hitting American families hard.
In August 2024, Trump promised to lower the cost of living, claiming prices would drop “on day one.” He also pledged to ramp up domestic oil production with the slogan “drill, baby, drill.”
Once back in office, Trump rolled out his “America First Trade Policy” to reduce reliance on foreign goods by imposing sweeping tariffs. On April 2, he announced a 10% tariff on most countries, with more increases set for July. He also imposed 25% tariffs on autos, steel, and aluminum, 25% on Canada and Mexico, and a staggering 145% on China—called “the equivalent of an embargo” by Treasury Secretary Scott Bessent.
China and the EU are retaliating, escalating the global trade war. Trump, however, denies these tariffs will raise prices and insists countries like China were “ripping us off.”
Despite his claims that the economy is thriving and the U.S. is now respected, Americans are feeling the strain. Analysts estimate his policies will cost households $4,000 to $8,000 annually due to higher import prices.
Though Trump insists he’s fulfilling his promises, approval ratings tell a different story. A majority of Americans disapprove of his performance, with many describing his presidency as “scary” and “chaotic.” His trade war, intended to fix past abuses, may be costing Americans more than they bargained for.