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UK drugs giant AstraZeneca announces $15 bn investment in China
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Russia's sanctioned oil firm Lukoil to sell foreign assets to Carlyle
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Samsung Electronics posts record profit on AI demand
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French Senate adopts bill to return colonial-era art
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Meta shares jump on strong earnings report
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Springsteen releases fiery ode to Minneapolis shooting victims
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Rules-based trade with US is 'over': Canada central bank head
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Holocaust survivor urges German MPs to tackle resurgent antisemitism
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'Extraordinary' trove of ancient species found in China quarry
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Google unveils AI tool probing mysteries of human genome
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UK proposes to let websites refuse Google AI search
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Trump says 'time running out' as Iran threatens tough response
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Germany cuts growth forecast as recovery slower than hoped
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Amazon to cut 16,000 jobs worldwide
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Greenland dispute is 'wake-up call' for Europe: Macron
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Dollar halts descent, gold keeps climbing before Fed update
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Sweden plans to ban mobile phones in schools
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Deutsche Bank offices searched in money laundering probe
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Susan Sarandon to be honoured at Spain's top film awards
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Trump says 'time running out' as Iran rejects talks amid 'threats'
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Spain eyes full service on train tragedy line in 10 days
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SKorean chip giant SK hynix posts record operating profit for 2025
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Trump's expanded tariff risk
Donald Trump (78), the former 45th and now 47th President of the United States, is preparing a surprising tariff package that could fundamentally change US trade policy. However, this package, which is intended as part of his strategy to strengthen the American economy, could have unexpected negative consequences that Trump may ultimately regret.
The expanded tariff package aims to tax further imports from certain countries in order to protect American companies and promote domestic jobs. In particular, tariffs on products from China, Mexico and the European Union are to be increased. Trump argues that these measures are necessary to combat unfair trade and restore the US as a leading economic power.
However, experts warn of the potential risks of this policy. Firstly, renewed tariffs, following the recent harsh US tariff measures, could lead to an escalation of trade conflicts, which could result in countermeasures by other countries and a global trade war. This would not only burden the American economy, but also jeopardise global economic stability.
Secondly, the new tariffs could increase prices for consumers in the US, as companies would pass on the additional costs to end customers. This could lead to inflation and reduce Americans' purchasing power.
Thirdly, the tariffs could damage relations with important trading partners and undermine confidence in the US as a reliable economic partner. This could have long-term implications for international cooperation and the geopolitical position of the US.
Fourthly, the tariffs could also have political consequences for Trump. If the measures fail to deliver the desired economic results or even have negative effects, this could weaken his support among voters and hurt his chances of re-election.
Overall, Trump's expanded tariff package would be a risky move that carries both economic and political risks. Although it is being presented as a means of strengthening the American economy, the long-term consequences could cause Trump to regret his decision.
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