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President Trump says reciprocal tariffs will kick in on April 2, meaning the U.S. will match the higher tariff rates other countries impose on the U.S. Trump is banking on the scale of these reciprocal tariffs to reduce the U.S. trade deficit, but many economists worry the slew of tariffs will worsen inflation and lead the U.S. economy into a recession.
WSJ explains why economists believe this strategy will end up hurting U.S. consumers.
Chapters:
0:00 Trump’s reciprocal tariffs
0:25 How reciprocal tariffs hurt consumers
0:52 “Fairness” in trade policy
1:48 Why a trade deficit may not be bad
3:47 Risks of reciprocal tariffs
4:55 What’s next?
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2025/03/21
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