Who Pays the Price for Trump's Tariffs?

American President Donald Trump’s long list of tariffs on supplies like steel, aluminum (25%), and a great number of Chinese goods triggered a global trade spat. China fired back with its own tariffs, which targeted especially U.S agriculture, which led to farmers taking a huge hit, needing billions in government aid just to survive.

Meanwhile, American shoppers started noticing price increases on every product imaginable. Some industries, like U.S. Steel, got a temporary boost. But others, like auto manufacturing, faced rising costs due to the expensive materials.

Trump argued that tariffs were needed to protect American industries and bring jobs back to the U.S. He believed they would reduce the trade deficit and force countries like China to play fair.

As the world struggles with supply chain issues and inflation, opinions remain divided over the US president’s trade policies. Supporters say that Trump’s measures were necessary. Critics say it was a “costly, self-inflicted wound”. Either way, the negative effects of his tariffs, especially on China, are being felt and talked about globally.

Sources:

https://www.forbes.com/sites/stephenpastis/2024/11/27/gas-electronics-and-groceries-could-become-pricier-under-trumps-proposed-tariffs-against-mexico-and-canada/

https://edition.cnn.com/2025/03/17/economy/tariffs-oecd-forecast-economy-inflation/index.html