President Trump Imposes Sweeping Tariffs, Marking a Turn Toward Protectionism

On April 2, 2025, President Donald Trump announced a 10% baseline tariff on all imports with additional penalties targeting key trading partners including China, Japan, South Korea, and the EU. This policy marks a significant shift toward protectionism, as the administration cites the need for economic independence and a revamped approach to American trade policy.

Following the announcement, U.S. customs began enforcing these tariffs, with reports on April 5 indicating that some imported goods already faced higher rates on a sliding scale. Global markets have reacted with heightened volatility, and leaders from various countries have expressed concerns over potential economic fallout. Critics warn that these changes could lead to higher prices, reduced growth, and strained diplomatic relations, while some sectors brace for a turnaround in manufacturing strategies to mitigate tariff impacts.