Trump Plans Tariffs, Risks Global Trade Disruptions

President Trump has commenced a new round of tariffs targeting major trading partners, including Canada, China, and Mexico, aiming to reshape trade dynamics and assert U.S. dominance. This has led to significant uncertainty for American businesses, as they face rising costs which may be passed on to consumers, potentially inflating prices across various sectors, including the auto industry. U.S. Senator Gary Peters highlighted that increased tariffs have already made new and used cars more expensive, impacting repairs and insurance costs. Globally, shipping firms are experiencing confusion due to the unpredictability of tariffs, prompting some companies to shift to air shipping to mitigate costs. Additionally, France anticipates tariffs could reach up to 25%, warning of major economic disruptions both in Europe and the U.S. Meanwhile, European leaders are preparing coordinated responses to these sweeping tariff changes, emphasizing the need for unity in the face of potential trade chaos.