Trump Tariffs Burden US, Taiwan, Small Businesses Globally

The implementation of U.S. tariffs under President Trump has significantly impacted global trade dynamics, especially for exporters and small businesses. Taiwanese machinery exports to the U.S. face a 20 percent baseline tariff combined with a strengthening Taiwan dollar, eroding their traditional price advantage and threatening competitiveness in the U.S. market. Small U.S. companies continue to struggle with increased costs, supply chain disruptions, and compliance burdens stemming from these tariffs, forcing many to reconsider sourcing and operational strategies. Similarly, South Africa experiences modest economic damage and job losses due to the 30% U.S. reciprocal tariffs, although the broader impact on inflation remains limited. A Goldman Sachs analysis reveals that U.S. companies absorb the majority of tariff costs, elevating consumer prices and squeezing corporate profits, particularly affecting manufacturers and multinationals reliant on imports. Overall, tariffs intended to protect domestic industries have resulted in higher production costs, inflationary pressures, and challenges to export competitiveness.