#TrumpTariffs Trump's tariffs, implemented during his second administration, have unleashed a global economic storm. With a base tariff of 10% on all imports, 25% on Canada and Mexico, and up to 145% on China, the strategy aims to reduce the trade deficit and protect American industry. However, recent analyses, such as that from JPMorgan Chase, estimate a direct cost of $82.3 billion for U.S. companies, with a 60% pass-through to consumers, raising prices of basic goods. The Tax Foundation calculates an impact of $1,200 per household in 2025, while the Penn Wharton Budget Model projects an 8% drop in GDP and a 7% decline in wages. Economists warn of inflation, global recession, and disruptions in supply chains. Although Trump argues that tariffs encourage local production, critics point out that the costs fall on American consumers and businesses, not on foreign countries. Retaliations from China and the EU, along with instability in financial markets, highlight the risks of a trade war. The lack of a clear post-tariff strategy, according to The New York Times, exacerbates global economic uncertainty.