Preached upon the campaign trail, tariffs are a core tenet in the Trump administration’s plan to “make America great again.”
Since being announced, their effect on global economies has been disastrous. On April 2, Trump announced a 34 percent tariff on all Chinese goods imported into the United States in an effort to address the “extraordinary threat posed by illegal aliens and drugs,” according to WhiteHouse.gov. In response, China (a country accounting for 16 percent of America’s total global trade) followed suit, issuing a 34 percent tariff on U.S. goods. As of April 10, a majority of tariffs on other countries have been postponed for 90 days; however, Trump has increased the proposed tariffs on China to 125 percent. After further escalation, some imports from China may be subject to tariffs as high as 245 percent.
These tariffs will be especially impactful considering the number of goods imported from China, including a vast array of technological products, pharmaceutical equipment, and food, all of which will see an increase in price when these tariffs take effect. Said price hikes have already been felt by THS students around campus. Chloe Sturdivant, freshman, stated that one of her favorite perfumes has risen from $7 to $13—an 86 percent increase.