Trump last week officially fulfilled a campaign promise to unleash sweeping tariffs, a move that has sparked fears of a global trade war and prompted a major question about what has become the centerpiece of his economic agenda: What’s his endgame?
In size and scope, Trump’s ultimate blueprint for global tariffs — a 10% baseline tariff on virtually every country, with higher numbers on countries with which the United States has larger trade deficits — was more than most expected. It has left global financial markets tumbling and Trump’s Republican supporters trying to thread the political needle of not criticizing him while also understanding the economic peril the tariff plan may usher in ahead of 2026 midterm elections in which the GOP will try to defend its slim House and Senate majorities. – CNBC
