US President Donald Trump recently announced a 50% duty on goods coming out of the European Union, followed by a warning to Apple that failing to move manufacturing back home would prompt a tariff of at least 25%. The news sent shockwaves through financial markets, with the Dow plummeting 256 points.
Critics argue that Trump’s tariffs are more symbolic than effective, leaving many businesses and consumers in limbo. With each surprise twist, uncertainty builds, causing anxiety among entrepreneurs and ordinary people alike. Even supporters of the president are growing concerned about his approach to trade policy.
The economic impact of Trump’s tariffs is already being felt, with retailers like Walmart warning that they cannot absorb higher import prices, which will be passed on to customers. The latest poll numbers suggest that a majority of Americans, 57%, believe that tariffs are hurting the economy, and 26% think they are his biggest mistake so far.
While Trump sees tariffs as a powerful tool, critics argue that he needs to use other tools to get better deals for the country. As the trade negotiations continue, it is essential for the president to balance his tough stance with a more nuanced approach to achieve lasting results.
Source: https://nypost.com/2025/05/24/opinion/trumps-whim-driven-strategy-risks-giving-everyone-a-bad-case-of-tariff-burnout