Washington DC55 minutes ago
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date- 2 April
Place- Capital Hill, Washington DC
US President Donald Trump announced a tariff on foreign goods for the first time in his second term. This directly affected America’s stock market. People began to fear that this would make the goods expensive, the business will be affected.
Due to this fear, investors started selling their shares fast. The result was that the US stock market suddenly fell. Market index like Dow Jones, S&P and Nasdaq declined by more than 10% in 2 days.
Such a decline in the US market was seen in March 2020 during a visit to Corona. Shares of big tech companies were also broken. There was panic among trading people and companies. Seeing the condition of the market deteriorating, the Trump government postponed the tariff for 90 days.
Now Trump has once again announced a tariff on countries around the world from August 9. It is believed that this may once again cause damage to the American market. This has also increased the risk of recession worldwide.
US President Trump announced a tariff on 69 countries on 2 April 2025 at the Rose Garden of the White House.
In the story, we will know what is the loss to America due to Tram’s tariff and how the world is in danger of gathering….
Every American will have to spend 2 lakh more a year
According to the budget lab of Yale University in the US, the average tariff rate in the US has been increased to 18.3%. This is the highest in 100 years. Earlier in 1909, the average tariff rate in the US was 21%.
Due to more tariffs, American families will have to bear an extra cost of $ 2400 (2 lakh rupees) on an average this year. Earlier, the foreign goods that were buying for $ 100, now they will have to pay $ 118.3.
Economist Wandong Zhang, an economist at Cornell University, says that in the coming times, the prices of things in the US will increase further that uses steel and aluminum, such as a refrigerator or washing machine.
America’s GDP lost 11.6 lakh crores
According to the budget lab, the US GDP may fall 0.5% from the tariff. This means that US $ 28 trillion dollar economy will lose $ 140 billion in a year. It is 11.6 lakh crores in Indian rupees.
Tax Foundation says that the tariff will also affect food and drink. Banana and coffee are not grown in sufficient quantity in the US, so their price will increase. Fish, beer and alcohol will also affect inflation.
If things are more expensive, people will buy less. Although Trump claims that the tariff will strengthen the economy, but experts believe that this will increase inflation and reduce jobs.
According to recently released government data, only 73,000 new jobs were added in July. According to the government’s estimate, 1.09 lakh new jobs were expected to increase. Jobs also declined in May and June. This included a average of 35,000 per month job in a quarter. This is the lowest figure since 2010.
Angered by this figure, Trump fired the commissioner of Bureau of Labor Statistics, Erica McArterfar on 1 August. Trump alleged that the report was manipulated by the ‘political motive’.
Bureau of Labor Statistics Commissioner Erica McCenter. Erica was appointed in 2024 by former US President Joe Biden. (File photo)
Trade war can start with response tariff
When a big country like America imposes tariffs, other countries can also apply counter tariffs. This leads to a trade war between countries. At present, many countries are avoiding counter -tariffs on American goods, but they can put counter tariffs to pressurize the US.
For example, when Trump imposed more tariffs on China in the 2018-19 tariff war, China also taxed soybeans, automobiles and many American goods.
American soybean consumes considerable consumption in China. The price of soybean became 25% more expensive due to China’s tariff, which led to a 50% decline in exports. This caused a lot of damage to American farmers.
Then the US government had to release a relief package of $ 7.3 billion for soybean farmers to help the farmers.
The danger of recession on the world increases
Donald Trump’s tariff policy has increased the risk of recession in the world. International agencies and economic experts have warned that the speed of the global economy may slow down if the tariff war progresses.
The IMF said in a report published on April 22 that if the US and other countries get entangled in tariff war, the global growth rate can decrease from 3.3% to 3.0% in 2025.
The Organization for Economic Co-Operation and Development (OECD) said in its report on June 3 that the decisions associated with Trump’s tariffs will have an impact on not only America, but also on Europe and Asia.
This can lead to a decrease in manufacturing and exports, which can pose a threat to synchronized sloddown (recession) simultaneously in the whole world economy.
According to the report, the recession will affect America and then China, India, Canada, Italy and Ireland.
America’s soft power effect decreased
The effect of Trump’s tariff has been that many close countries of America have now become angry with him. Countries like Canada, Japan, South Korea, France, which are very close to America, are now considering their relations again.
Trump’s tariff policies have affected relations with old associates and friendly countries of America. In such a situation, his trust in America has started declining. Canada and America relations have always been very close, but they have been very stressed during Trump’s era.
The situation in Asia is also no different. Japan and South Korea, who are dependent on the US for security, are now trying to make themselves more self -sufficient, as they fear that it may be difficult to trust America in the future.
Japan initially hoped that he would be able to get closer to America by meeting Trump’s demands. He had also increased his defense budget significantly, but the US officials made more demands. Tokyo, angry with this, canceled the meeting of the Defense and Foreign Ministers of America and Japan in July.
Although the US and Japan later signed a trade agreement, it is just an attempt to show the normal situation from above. In fact, Japan is now looking for ways not to be completely dependent on America, as it fears the uncertainty of Trump’s decisions.
At the same time, Australia also openly criticized America’s new demands. A few days later, the US Defense Ministry announced a review of an important defense agreement called Aukus, which was considered the most important sign of the US security guarantee for Australia.
America’s ‘soft power’, that is, the ability to connect the world with its influence has also declined. This decline is clearly visible in South Pacific countries, where China and America have a direct competition.
sources
1. https://budgetlab.yale.edu/research/where-we-stand-fiscal-economic-and-distributional-effects-all-us-tariffs-enacted-2025-through-april
2. https://www.theguardian.com/business/2025/apr/22/imf-major-negative-shock-trump-tariffs-uk
3. https://apnews.com/article/trump-tariffs-consumers-prices-ebf959d8f8ad24bd0757d8e3693924c1 ———————————————
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