In a recent interview with Time, President Donald Trump reaffirmed his stance on high tariffs, stating that they could remain in place for the foreseeable future, even suggesting that a “total victory” would mean import taxes as high as 50% within a year.
Trump’s trade policies have resulted in historic tariffs on a wide range of imports, including a 10% tariff on virtually all goods entering the U.S., a 25% levy on steel, aluminum, and autos, and a staggering 145% tariff on many Chinese goods.
These tariffs have led to a significant slowdown in trade, with experts warning of rising costs for consumers and strained business operations. The U.S. effective tariff rate is now at 22.8%, the highest among developed countries, according to Fitch Ratings. As a result, American businesses are grappling with increased costs, and trade with countries like China has essentially ground to a halt. The tariffs have led to the depletion of warehoused goods, leaving businesses facing tough decisions: absorb higher import costs or stop selling certain products.
Despite the growing uncertainty, Trump maintains that these high tariffs will ultimately benefit the U.S. economy. In the Time interview, he argued that tariffs would encourage businesses to reshore production, bringing jobs and investment back to the U.S. However, critics point out the significant challenges in reshoring manufacturing, including the need to train American workers for factory jobs and the high costs of building factories in the U.S.
The tariffs have already had a noticeable impact on American consumers. Economists predict that the continued high tariffs will lead to higher prices across the board, as costs are passed down the supply chain. The Federal Reserve’s Beige Book recently noted that businesses are halting hiring, with "uncertainty" emerging as a major theme. Consumer sentiment has reached near-record lows, and many companies have downgraded their sales and profit projections due to reduced consumer spending.
Trump, however, remains optimistic. He claimed that his administration is in the process of negotiating hundreds of trade deals that could further improve the U.S.'s position in global trade. He promised to announce these deals in the coming weeks, emphasizing that the U.S. is now receiving billions of dollars daily in tariff revenues, despite the fact that tariffs are paid by American importers, not the target countries.
Despite recent market volatility and concerns about the economic impact of the tariffs, Trump continues to defend his trade strategy, insisting that the U.S. will benefit in the long run. However, the ongoing trade war and its effects on the global economy suggest that the path to “total victory” may come at a significant cost for American consumers and businesses.
The Kremlin has dismissed criticism from U.S. President Donald Trump, who warned that Vladimir Putin is "playing with fire" by avoiding ceasefire talks with Ukraine, saying Russia's national interests remain the top priority.
The Trump administration has temporarily halted new student visa appointments at U.S. embassies worldwide, as it prepares to tighten scrutiny of international applicants' social media profiles — a move that could impact universities and foreign students alike.
U.S. President Donald Trump will host South African President on Wednesday for crunch talks over alleged "genocide" on white farmers and other racial issues highlighted by the Trump. Ramaphosa is hoping to use the opportunity to revive US-South Africa relations, currently at its lowest since 1994.
U.S. President Donald Trump to speak with Presidents Putin and Zelenskyy on Monday to discuss efforts toward peace in Ukraine.
U.S. President Trump and Rep. Khanna have expressed support after Joe Biden’s cancer diagnosis.
Germany has dismissed Russian accusations of warmongering, defending its support for Ukraine’s missile development as a stand for international law.
The Czech government has summoned China’s ambassador over a cyberattack it says targeted the foreign ministry’s communications during its 2022 EU presidency.
Italy's Prime Minister Giorgia Meloni will host French President Emmanuel Macron for talks in Rome on June 3, Meloni's office said on Wednesday.
Under the stars in Rome, Dior unveiled its cruise and haute couture 2026 collections with a dreamy runway show inspired by Italian cinema and theatre.
The International Labour Organization (ILO), headquartered in Geneva, has announced the loss of around 225 jobs due to significant funding cuts, mainly caused by the reduction of voluntary contributions from the United States under President Donald Trump.
AnewZ takes to the streets of Yerevan and Baku to ask a simple yet deeply complex question: How do you see peace between Armenia and Azerbaijan? In the first part of our special report, we hear the hopes, doubts, and scars still shaping people’s perspectives on both sides.
A car drove into crowds of Liverpool fans celebrating the club’s Premier League title in the city centre on Monday evening, injuring dozens including 4 children. A 53-year-old man believed to be the driver was arrested at the scene.
On May 28, the inauguration ceremony of Lachin International Airport was held.
EU ministers have greenlit a massive €150 billion defense investment fund—dubbed the Security Action for Europe (SAFE)—as the bloc ramps up its military readiness in response to Russia’s aggression and growing uncertainty over U.S. security guarantees.
Kyiv faced a large-scale Russian drone and missile assault overnight, with explosions and gunfire echoing throughout the city, forcing residents to shelter in subway stations.
Germany has dismissed Russian accusations of warmongering, defending its support for Ukraine’s missile development as a stand for international law.
The Czech government has summoned China’s ambassador over a cyberattack it says targeted the foreign ministry’s communications during its 2022 EU presidency.
Italy's Prime Minister Giorgia Meloni will host French President Emmanuel Macron for talks in Rome on June 3, Meloni's office said on Wednesday.
The International Labour Organization (ILO), headquartered in Geneva, has announced the loss of around 225 jobs due to significant funding cuts, mainly caused by the reduction of voluntary contributions from the United States under President Donald Trump.
U.S. President Donald Trump said he is reluctant to impose new sanctions on Russia, warning that such measures could jeopardize efforts to reach a ceasefire in Ukraine.
Germany has dismissed Russian accusations of warmongering, defending its support for Ukraine’s missile development as a stand for international law.
The Czech government has summoned China’s ambassador over a cyberattack it says targeted the foreign ministry’s communications during its 2022 EU presidency.
Italy's Prime Minister Giorgia Meloni will host French President Emmanuel Macron for talks in Rome on June 3, Meloni's office said on Wednesday.
Under the stars in Rome, Dior unveiled its cruise and haute couture 2026 collections with a dreamy runway show inspired by Italian cinema and theatre.
The International Labour Organization (ILO), headquartered in Geneva, has announced the loss of around 225 jobs due to significant funding cuts, mainly caused by the reduction of voluntary contributions from the United States under President Donald Trump.
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