A key part of President Trump’s economic policy in his first two months in office has been imposing tariffs on foreign countries to strengthen American businesses. Tariffs are taxes, or duties, imposed by a government on imported goods, aimed at protecting domestic industries, influencing trade balances or raising revenue. The first round of tariffs included a 25% tax on products from Canada and Mexico and a 10% tax on products from China. A second round imposed a 25% tariff on products from the European Union including steel, aluminum and automobiles.
Part of Trump’s stated reasoning behind these tariffs is to reduce the number of undocumented immigrants and amount of fentanyl entering the US by forcing Canada and Mexico to reach agreements on strengthening their own borders. In simple terms, Trump is using tariffs as a negotiating tool against our neighbors and justifying this by saying that America has “been taken advantage of for far too long.”
However, there are consequences to these tariffs for Americans. Johnny Lauer (‘26) voiced his concerns saying, “I’m worried that the prices for daily necessities will increase as domestic production won’t keep up.”
Trump’s tariffs have not been well received by our northern neighbor. Canada has imposed its own tariffs, the same 25%, on US goods affecting orange juice, peanut butter, wine, beer and coffee. A “Buy Canadian” movement has sprung up to boycott American goods. Europe has also threatened retaliatory tariffs on American products including whiskey.
Trump’s tariffs aim to protect industries In the US, but they are likely to lead to higher costs for American consumers. Businesses that rely on imported materials face increased expenses which can result in higher prices for goods like cars, electronics, and household items. Farmers who rely on selling crops like soybeans and corn to Mexico and Canada could see reduced demand, leading to financial hardship.
Ultimately, Trump’s tariffs have the potential to disrupt trade, discourage investment and slow economic growth for the United States.