Trade negotiations are in full fledge as the Trump administration prepares to levy unprecedented “reciprocal” tariffs on nations across the globe in its ongoing effort to battle America’s trade deficit.
The upcoming deadline on tariff payments comes after a July 7 memorandum was issued by the White House that announced the president’s bid to press foreign nations into trade negotiations amidst an ongoing state of national emergency.
“President Trump is using tariffs as the necessary and powerful tool to put America First after many years of unsustainable trade deficits that threaten our economy and national security,” affirmed the White House in its statement just over two weeks ago.
A list of nations targeted for individual tariffs was concurrently issued, including 30% for South Africa; 40% for Laos and Myanmar; and a surprising 25% for the European Union, Japan, and South Korea, all three of which have been denoted as close economic allies of the United States. Since the tariffs were announced, negotiations have taken place, with the EU and Japan both succeeding in lowering the tariff rates imposed on them to 15%.
At a Carnegie Mellon University summit, Secretary of Commerce Howard Lutnick remarked, “Nothing stops countries from talking to us after August 1, but they’re going to start paying the tariffs on August 1.” Lutnick’s comments come after many have raised concerns over the permanence of the incoming reciprocal tariffs, now seen as yet another device for the Trump administration to exert control in their continuing trade negotiations.
In this ongoing economic conflict between the United States and nations across the globe, the White House maintains that Americans will benefit, while “Countries that aren’t serious about addressing the tariff and non-tariff trade barriers are facing the consequences.”
Despite the president’s affirmations towards his tariff enterprise, many Americans have expressed skepticism over the efficacy of Trump’s actions, as well as his ability to handle the inflation that will inevitably come with the increasing taxation on imports.
In late April, left-leaning media outlets ABC and CBS News released poll results approximating the percentage of Americans satisfied with the conservative president’s handling of tariffs and inflation. ABC would report 64% and 71% dissatisfaction, respectively, while CBS would output percentages of 62% and 69%, outlining the message that the public was overall displeased with the president’s macroeconomic policies in April and the foreseeable future.
Gallup, a centrist source, would also affirm this verdict, citing 70% of Americans being displeased with Trump’s tariffs in the short run, and 62% being dissatisfied in the long run as well. Furthermore, an estimated 66% were also skeptical of the future of America’s inflation issues, expressing the belief that they will pay more as a direct result of the tariffs.
Perhaps the most stunning statistics came from the conservative-leaning outlet, FOX News, which has generally supported President Trump’s stances in its reporting. Despite this, its own late-April polls on the president’s performance estimated 58% of Americans were dissatisfied with Trump’s handling of tariffs, and 59% were dissatisfied with his inflation policy.
World leaders have expressed a universal sentiment of dismay towards the Trump administration’s tariffs, with several attributing their hurt to a sense of betrayal.
In a statement made in response to the tariffs, Spain’s prime minister, Pedro Sanchez, chastised the Trump administration’s agenda, stating that “the U.S. administration makes no distinction between friends and enemies. It’s against everyone and everything.”
Australia’s prime minister, Anthony Albanese, would similarly state that America’s tariff actions “have no basis in logic and they go against the basis of our two nations’ partnership. This is not the act of a friend,” while French president Emmanuel Macron called the initiative “brutal and unfounded”.
Other leaders reacted with regret to the tariff announcement, expressing intentions to negotiate better relations with the U.S. South Korea’s former prime minister Han Duck-soo proclaimed, “As the global trade war has become a reality, the government must pour all its capabilities to overcome the trade crisis.”
Sweden’s prime minister, Ulf Kristersson, would likewise express his intent towards a mended future, stating on behalf of his government, “We don’t want growing trade barriers. We don’t want a trade war. We want to find our way back to a path of trade and cooperation together with the U.S.”.
Domestically, Americans’ majorly critical position on the Trump administration’s tariffs stems from a practical standpoint of inflation. With the increased taxation on imports, foreign exporters have no choice but to increase the prices of their products, which has fueled consumers’ negative sentiment towards the president’s efforts.
Bellevue College student Koh, a native of Japan, expressed his personal disapproval of the Trump administration’s initiative.
“[America] should make something that Japanese people like first, then complain. I understand that imposing tariffs will raise prices and encourage Americans to buy domestically produced products, but it is the American people who will bear the burden of buying foreign products, such as those made in Japan, which will continue to have a certain demand even after prices rise,” Koh stated when discussing his stance on the American tariffs on Japan.
There is still much to be seen with Trump’s tariff policy. Currently, in spite of the criticism expressed by many Americans and the administration’s macroeconomic operations, the U.S. Bureau of Labor Statistics has procured data showing inflation to have had an increasing rate far lower than the Biden administration’s, leaving much change to still be seen.
With the volatility of Trump’s Aug. 1 reciprocal tariffs, it is unclear yet whether foreign nations will begin providing America with a better footing in the world of global trade. Regardless of the public’s political disposition, most Americans’ concern lies in the affordability of goods in the near future, as further inflation is poised to occur in the next few weeks.
