Trump’s tariffs will empower China and impoverish America

Published April 3, 2025 2:14pm ET



President Donald Trump’s newly announced tariffs have sent shockwaves through the financial markets, the business community, and the international community. They risk a near-term recession and major, sustained upheavals to jobs and supply chains. Totally contradicting Trump’s promises of a glorious renaissance, domestic car manufacturers such as Stellantis have already started cutting jobs.

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