Former US President Donald Trump has reignited fears of a global trade war by proposing sweeping tariffs on imports if he returns to power. The controversial plan, which would impose a universal 10% levy on foreign goods, has drawn sharp criticism from economists and trading partners alike.
Radical Trade Policy Shakeup
The proposed measures represent a dramatic escalation of Trump's protectionist agenda, going beyond even his previous trade wars with China and other nations. Under the new plan, all imports would face automatic tariffs, with particularly high rates targeting countries deemed to be manipulating their currencies.
Economic Fallout Feared
Financial experts warn the policy could:
- Trigger retaliatory measures from trading partners
- Increase costs for American consumers
- Disrupt global supply chains
- Potentially spark inflation
The announcement comes as the global economy shows signs of fragility, with many nations still recovering from pandemic-related shocks.
Political Reactions Divided
While Trump's base has cheered the tough-on-trade stance, opposition figures have condemned the proposal as reckless. Some within the Republican establishment have also expressed reservations about the potential economic consequences.
The debate sets the stage for a contentious election cycle where trade policy is likely to feature prominently. With the US economy facing multiple challenges, the tariff proposal could become a defining issue in the coming months.
