President Donald Trump has unveiled a bold new tariff plan, imposing sweeping duties on key global trading partners, including China (53%), the EU, and South Korea (20%), with a 10% baseline on all nations. Speaking at the White House Rose Garden, Trump championed tariffs as a long-standing pillar of his economic vision, vowing to reclaim American wealth lost to foreign competition.
While his supporters cheered, economists sounded alarms. Former IMF chief economist Ken Rogoff warned of a potential U.S. recession, calling Trump’s move a “nuclear bomb on the global trading system.” Critics argue the tariffs could drive up consumer prices and strain U.S. alliances, particularly with Japan and South Korea.
Trump, undeterred, framed this as America’s “liberation day,” promising to revive domestic manufacturing and reduce reliance on global supply chains. Whether this marks a triumphant shift or a historic misstep remains to be seen.
