US EditionDid Trump have a master plan with tariffs or was it pure ignorance and stupidity?
- On 2 April 2025, Donald Trump announced a 10% tariff on all U.S. Imports, effective 5 April, with additional tariffs targeting 57 countries and rates up to 125% on Chinese goods set to follow on 9 April.
- Global markets reacted negatively, with U.S. Stocks losing $6.6 trillion in value within two days, leading the S&P 500 to approach bear market territory by dropping nearly 20% from its February peak.
- On April 9, the White House paused most reciprocal tariffs for 90 days, except for those on China, causing a surge in U.S. Markets, but the S&P 500 remained 5% below its pre-tariff level by April 14.
- Experts criticized the tariffs for lacking a coherent strategy and called them economically ignorant, with fears that they could harm smaller businesses disproportionately.
19 Articles
19 Articles
Small businesses sue the Trump administration over tariff authority
By Matthew Kaufman, CNN A group of US companies filed a lawsuit Monday arguing that President Donald Trump's tariffs are illegal under the International Emergency Economic Powers Act (IEEPA). The lawsuit was filed in the US Court of International Trade by the Liberty Justice Center, a legal advocacy group arguing on behalf of five companies it said have been "severely harmed" by the tariffs.
The Epoch Times
5 Companies Sue Trump Over Tariffs
Five companies filed a lawsuit against the Trump administration over its decision to impose tariffs on nearly every country in the world, arguing that President Donald Trump overstepped his authority. On April 2, Trump announced that he would impose 10 percent baseline tariffs on nearly every country and higher rates for nations with which the United States is at a significant trade deficit. A week later, the president paused the reciprocal tari…
Did Trump have a master plan with tariffs or was it pure ignorance and stupidity?
On 2 April 2025, Donald Trump announced a 10% blanket tariff on all United States imports, effective 5 April. Additional tariffs targeting 57 countries, including rates up to 104% on Chinese goods, were scheduled to follow on 9 April. Global markets immediately reacted, with U.S. stocks losing $6.6 trillion in value over the next two days. By 5 April, the global 10% tariff came into force. The S&P 500 approached bear market territory, having dro…
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