Trump's Tariff Plans Aim to Reshape US Trade Policy
US President Donald Trump is employing tariffs, a favored economic tool, in his efforts to reshape the country's trade policy.
Trump has threatened to impose tariffs on a range of goods, from Chinese products to Mexican cars. The scope and scale of these threats have fluctuated, leaving businesses and trading partners uncertain about potential implications.
Tariffs could lead to higher inflation, potentially influencing the Federal Reserve's interest rate decisions. Trump has indicated that these threats may materialize into policy as early as February.
Latest Update:
Today, Trump's nominee for Commerce Secretary, Howard Lutnick, expressed support for "across the board" tariffs. Lutnick highlighted their potential to address economic issues, including protecting American leadership in artificial intelligence.