Trump’s Trade Tariffs and America’s Small Businesses

Photograph by Nathaniel St. Clair

President Trump vows to “make America wealthy again” as he pursues a global trade policy that favors new, sweeping tariffs, a price hike on foreign-made goods arriving for sale in America. Invoking his authority under the International Emergency Economic Powers Act of 1977, he will impose a 10% tariff on all countries to begin April 5. Further, the U.S. president will impose an individualized reciprocal higher tariff on the countries with which the United States has the largest trade deficits.