President Trump's proposed tariffs, #TrumpTariffs declared as part of "Liberation Day" on April 2nd, $SOL have ignited a fierce debate. The planned 20% reciprocal tariff on most imports aims to revitalize U.S. manufacturing and decrease dependence on foreign goods. However, critics caution that this move could trigger a significant economic downturn. #goldpricesoar

- A $1.4 trillion hit to the global economy if retaliatory tariffs follow

- Higher prices and potential inflation on the horizon

- Energy markets are already feeling the effects, with secondary tariffs on Russia and Iran shaking up oil prices. #pakistanicrypto

According to the Tax Foundation, the imposed tariffs could reduce U.S. economic output by 0.4% and lead to a loss of 358,000 full-time equivalent jobs. Additionally, the tariffs could increase tax revenue for the federal government, but at the cost of reduced after-tax incomes for Americans. #Goldpricesoar

While the tariffs may provide short-term protection for American industries, the long-term effects could be detrimental to the global economy. As the situation unfolds, it's essential to monitor the impact on international trade, inflation, and economic growth. $BTC