Trump's Tariff Policy Sparks Trade War, Risks Economic Recession

President Trump announced plans to implement country-by-country reciprocal tariffs starting April 2, aimed at addressing what he views as unfair trade practices by other nations, particularly citing South Korea. While Trump emphasized the need for flexibility in tariff policies, he rejected the idea of offering exceptions, stating that it would create expectations for all trading partners. A recent survey indicated mixed reactions among businesses regarding the impact of these tariffs, with many expressing uncertainty and concern over potential negative effects on production and market stability. Critics argue that Trump's tariffs effectively act as a tax on American consumers, with projections suggesting significant job losses and economic downturns as a result. The imposition of tariffs has sparked fears of an escalating trade war, which could severely hinder overall economic growth in the U.S. and abroad. Analysts warn that the long-term consequences of such policies may outweigh any short-term benefits, threatening a broader recession.