May 30, 2025
How Trump's trade war is upending the global economy
President Trump's sweeping tariffs have disrupted global trade, causing financial market volatility and economic uncertainty worldwide
The ruling blocks tariffs imposed on nearly all U.S. trading partners, including levies on China, Mexico, and Canada, which were justified by declaring trade deficits as a national emergency
Affected countries, including China and the EU, have responded with their own tariffs, intensifying the trade war and affecting global supply chains
American manufacturers and farmers are experiencing increased costs and reduced exports, leading to economic strain in various sectors
U.S. courts have ruled that some of Trump's tariffs exceeded presidential authority, adding legal complexity to trade policies
The trade war has contributed to a slowdown in global economic growth, with developing nations particularly affected by disrupted trade flows
Tariffs have led to higher prices for consumers on various goods, from electronics to everyday products, due to increased import costs
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