In 2025, Trump, now U.S. president, turned to import duties as a cure-all. But in many ways, the cure turned out to be worse than the disease. As a result of the uncertainty and chaos Trump’s tariffs engendered, the U.S. economy shrank in the first quarter of this year. And while companies have so far mostly absorbed the levies’ costs, consumers are beginning to pick up the tab.
Although tariffs haven’t been in vogue since the 19th century, Donald Trump has seen them as a solution for what he perceives to be an unfair global trading system since at least the 1980s .
Although tariffs haven’t been in vogue since the 19th century, Donald Trump has seen them as a solution for what he perceives to be an unfair global trading system since at least the 1980s.
In 2025, Trump, now U.S.
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