Donald Trump has shocked global trade with sweeping tariffs against dozens of countries, creating economic ripples that have leaders worldwide scrambling to respond. The move fulfills a campaign promise to challenge what Trump views as decades of unfair trade practices against the United States, with some countries previously imposing tariffs exceeding 50% on American goods.
At its core, this represents an aggressive attempt to address America's staggering financial imbalance—a $2 trillion annual deficit. Critics, however, warn of dangerous historical parallels to protectionist policies that deepened the Great Depression, while markets have already responded with significant losses.
Will this work? How will we be impacted?
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