Back to today’s briefing

Story perspectives

Trump's Tariff Plan Could Spike Costs and Job Losses

4/4/2025

37 3

Summary

Story summary

President Trump's tariff proposal could raise U.S. average effective tariffs to 22.5%, the highest since 1909.
Tariffs may reach 60% on countries like China, risking retaliation from trading partners.
Manufacturers worry about rising costs and potential job losses from increased tariffs on imports.
Historical evidence indicates that previous tariffs contributed to declines in U.S. exports and economic downturns.

1 of 1

Story summary

President Trump's tariff proposal could raise U.S. average effective tariffs to 22.5%, the highest since 1909.
Tariffs may reach 60% on countries like China, risking retaliation from trading partners.
Manufacturers worry about rising costs and potential job losses from increased tariffs on imports.
Historical evidence indicates that previous tariffs contributed to declines in U.S. exports and economic downturns.