Trump's "Liberation Day" Is Anything But

President Donald Trump has announced that all imported goods purchased by Americans should have an across the board tax. President Trump has done this on what he calls “Liberation Day” his effort is to undo decades of globalization and re industrialize the U.S. economy. The goal is to make American wealthy once again and have foreign countries pay our tariffs. President Trump said that Americans will pay the minimum which is 10% “to help rebuild the economy and to prevent cheating.” Americans will be facing the effect of the Trump Administration very soon. Chinese importance will be 54% in taxes, 20% in European Union countries, 32% in Vietnam, and 24% for Japan. President Trump also added that foreign countries will have to pay for the privilege of having access to America's market. President Trump has painted a depressing picture of America which is why he believed signing an executive order that taxes Americans would help ensure America can be great again.  

The goal is to ensure that we can get Americans out of the trillion dollars of debt it is in. Imposing tariffs is bad for Americans because it increases the price for American consumers on imported goods. Trump wants Americans to reduce the gap between the goods the U.S. buys from and sells to countries. I do not agree with this decision because this will spiral into a domino effect. If other countries believe that the tax is too high this could make them not want to export to the U.S. which will lead to the products that do come into America becoming overpriced. We will see this change happen immediately starting on April 5, 2025. Only time will tell how this change affects not only foreign trade but American’s livelihood.