Trump Plans Universal Tariffs to Enhance America First Trade Policy

President Donald Trump is intensifying his trade policy with a series of proposed tariffs aimed at countries like China, Canada, and Mexico, as part of his 'America First' agenda. He rejected a Treasury recommendation for a 2.5% tariff, indicating a preference for a much higher rate to reduce trade deficits and bring manufacturing jobs back to the U.S. Trump's strategy includes a potential 25% tariff on Canadian and Mexican imports and aims to rejuvenate sectors like pharmaceuticals and semiconductors. Recent tensions with Colombia over deported migrants led to Trump threatening significant tariffs, which ultimately resulted in Colombia conceding to avoid the trade conflict. This situation exemplifies Trump's use of tariff threats as a bargaining tactic, demonstrating both the risks and potential rewards of his aggressive trade approach. Economists, however, caution that such tariffs could lead to higher consumer costs in the U.S.