President Donald Trump’s new wave of tariffs is making headlines—and not in a good way. Experts say his recent decisions could hurt not only America’s economy but also shake up global markets.
Tariffs Hit 24% – A 100-Year High
Trump has pushed the U.S. into a major trade shift. The average U.S. tariff has jumped from just 2% to a shocking 24% in April 2025. This includes a 10% flat tariff on all imports, with some countries facing tariffs of up to 50%.
He calls them “reciprocal tariffs”, claiming they’re necessary to fix unfair trade deals and protect American jobs. But economists think differently.
“It’s basically a tax on everyday Americans”
Top financial experts warn these tariffs could hit your pocket hard.
“It’s a tax on household income and business profits,” said Michael Feroli from J.P. Morgan. He expects a recession to start by June 2025.
Alec Phillips from Goldman Sachs agrees. He raised the recession risk to 45% and slashed America’s growth forecast to just 0.5% for this year.
Read More: State Treasurer: Coloradans’ $17B Investment at Risk Amid Federal Economic Moves
Trump’s History Lesson Isn’t Adding Up
Trump says high tariffs could’ve stopped the Great Depression. He argues America did well when it depended on import taxes. But history disagrees.
“Smoot-Hawley tariffs in 1930 made the Depression worse,” say economists. It triggered trade wars, killed exports, and deepened the crisis. Most experts see Trump’s logic as flawed and risky.
Global Reactions: Markets in Panic Mode
Markets don’t like uncertainty—and these tariffs brought a storm.
The Dow Jones dropped over 2,200 points, officially entering bear market territory. European and Asian markets also crashed.
Even big-name CEOs are worried.
“These tariffs could bring back inflation and slow the economy,” warned Jamie Dimon, CEO of JPMorgan Chase.
He called for a quick resolution, adding: “The longer this goes on, the worse it gets.”
What’s Next?
Right now, nobody knows exactly what Trump plans next—but China, one of the U.S.’s top trade partners, does.
“We don’t know what Trump’s plan is. But China has a plan—and they plan to win,” said journalist David Rennie.
Final Thoughts
Trump’s tough trade moves might sound patriotic, but many believe they’re a dangerous gamble. With the economy slowing, inflation rising, and global trust fading, experts urge the U.S. to rethink its trade strategy—before it’s too late.
