Are Trump's Tariffs Good for America? Newsweek Writers' Verdicts | Opinion
By Newsweek Staff
During the campaign, President Donald Trump focused much of his rhetoric on the economy around tariffs, saying that he would impose them on a number of countries around the world in order to bring industry back to U.S. shores and fight unfair trade practices.
Promises made, promises kept as the president announced sweeping tariffs today on nations including China, the European Union, Vietnam, India, Japan and South Korea. Each country faces different rates for their products based on what Trump called "cheating" and their existing tariffs on U.S. goods.
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Daniel DePetris—Trump Can't Have It Both Ways
What is President Donald Trump's new tariff regime supposed to accomplish? And how will other countries react?
The second question is the easiest to answer: it depends on the country. Some, like Mexico, will adopt a carrot-and-stick approach, enacting retaliatory tariffs on specific U.S. goods while offering concessions. Others, like the European Union, will attempt to hit America's economic jugular, hoping the economic pain will somehow bring Trump to the table.
The first question is complicated. Trump has suggested the tariffs are designed to pull more revenue into the U.S. Treasury and equalize the global trading relationship. But they can't do both. If it's the former, there is no negotiation to be had.
Daniel R. DePetris is a fellow at Defense Priorities.
Trump's Tariffs
Are Trump's Tariffs Good for America? Newsweek Writers' Verdicts Photo-illustration by Newsweek/Getty
Aron Solomon—Another Blow to Trump's Bona Fides
Awaiting Trump's tariff proclamations has become a collective endurance test. Wednesday's bizarre, inexact, and amorphous Rose Garden rally was a series of endless platitudes. His "policy" today—damaging to Americans, Canadians, Europeans, and East Asians alike—underscores his economic recklessness. More than its immediate harm, today's decision is another brick in the wall of Trump's obvious unfitness for office.
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Aron Solomon is a Pulitzer Prize-nominated journalist and lives in Canada.
Are Trump's Tariffs Good for America?
Yes
No
Arick Wierson—Bad Policy or Bargaining Chip?
We've seen this movie before—and it doesn't end well. Adam Smith warned that tariffs distort markets. Milton Friedman showed they that hurt workers and consumers. Even Ronald Reagan, a conservative icon and no stranger to tough talk, called protectionism a path to fewer jobs and higher prices. Trump's tariffs might sound bold, but history shows they backfire—raising costs, sparking retaliation, and slowing growth. Still, there's hope this is just opening posturing—a negotiating tactic to score short-term leverage. If so, great. The key will be knowing when to pivot. Let's hope he does—and quickly—before the damage becomes real.
Arick Wierson is a six-time Emmy Award-winning television producer and served as a senior media and political adviser.
Faisal Kutty—This Is Going to Hurt
The tariffs may energize Trump's base, but they carry steep economic risks for the U.S. as well. Ontario accounts for 39 percent of Canada's GDP and is the United States' third-largest trading partner, ahead of even China. More than 76 percent of Canadian exports to the U.S. are intermediate goods, crucial to American manufacturing and agriculture.
The Tax Foundation estimates that Trump's previous tariffs cost the U.S. 142,000 full-time jobs. A new round could hit even harder—especially in politically sensitive states like Michigan, Wisconsin, and Pennsylvania.
If Canada retaliates or accelerates trade diversification with Europe and Asia, the damage to U.S. supply chains and credibility could be lasting.
Faisal Kutty is a Toronto-based lawyer, law professor, and frequent contributor to The Toronto Star.
Paul du Quenoy—The Right Move at the Right Time
"If you want your tariff rate to be zero, then you build your product right here in America," President Trump announced in the Rose Garden on Wednesday, which he hailed as "Liberation Day" for the American economy. Trump's sweeping action, which imposes a 10 percent tariff on most goods from all countries and 20 percent to 50 percent targeted tariffs on countries with large imbalances, powerfully corrects decades of unfair trade practices that have stymied export-led U.S. growth and fueled the rise of China, our leading adversary, to world-power status. The tariffs will also help rebuild U.S. manufacturing by encouraging foreign investment in the United States, a process already well underway, with cascading benefits for high-quality employment, and set the ground for negotiated better trade deals all over the world.
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