Trump’s move on April 3 to impose new tariffs on imports from most of America’s trading partners appears to be a full-blown Republican gamble that this economic vision will benefit the American people.
It was a realization of four decades of support for Mr Trump’s protectionist foreign policy and the belief that free trade was pushing the US into recession as the economy shifted from manufacturing to services.
The reciprocal tax decision is the latest and perhaps boldest expression of Mr. Trump’s freedom in his second term to lead by his instincts, after feeling constrained in his first term in the Oval Office by aides who did not share his worldview, according to the AP article.
Initial reaction has been alarming.
Financial markets just had their worst week since the COVID-19 pandemic began, as foreign trading partners retaliated and economists warned that import tariffs could push inflation even higher and tip the U.S. economy into recession.
Now, Republicans are worried about the future of their party, while Democrats are feeling renewed excitement about what they see as Mr Trump’s overreach.
On April 5, pro-democracy activists joined protests across the country, the largest since Mr. Trump returned to the White House in January.
“The tide is turning,” said Rahna Epting, head of MoveOn, one of several organizing groups.
President Trump is undeterred. He promises that tariffs will revive domestic manufacturing and raise money to finance his domestic tax cuts.
On April 4, as the Dow Jones fell 1,600 points, he said things were “going great” and the economy was “going to explode.” The next day, he spent the day at the golf course as the index fell another 2,200 points.
The White House has maintained its stance. “Last November, America firmly rejected business-as-usual policies from DC. The entire Trump administration is committed to President Trump’s mission of upending the status quo,” said White House spokesman Kush Desai.
In his first term, Mr. Trump’s tariff threats prompted world leaders to seek him out for deals. This time, his actions have so far been met with strong retaliation from China and toughening stances from European allies.
Protesters hold up signs during a demonstration at the Washington Monument on April 5. (Photo: AP)
Change has begun
Even some Trump supporters are skeptical.
Frank Amoroso, a 78-year-old resident of Dewitt, Michigan, said he is concerned about rising interest rates and inflation in the short term, although he believes tariffs will benefit the United States in the long run.
Amoroso, a retired auto engineer who voted for Trump in the November 2024 election, said he would grade the president’s second term as a C-plus or B-minus. “I think he’s doing things too fast. But hopefully it’s done carefully and the economy can weather the recession.”
However, the majority of Mr Trump’s “Make America Great Again” coalition still expressed support for the leader.
Doug Deason, a prominent Republican donor in Texas, said he likes the president’s tariff plan, even though it would cause some economic disruption.
“He told us during the election that it would be very painful for the American people to turn this ship around. It’s hard to see our portfolio decline so much, but we understand that. We hope he holds firm,” Deason told the AP.
While Mr Trump struggles with the economy, Democrats are beginning to emerge from the dark cloud that has engulfed them since their election defeat last November.
Democrats won a decisive victory in Wisconsin’s state Supreme Court election earlier this week, despite billionaire Elon Musk and his groups spending more than $ 20 million on the race.
New Jersey Senator Cory Booker then breathed new life into the Democratic resurgence with a record-breaking 25-hour speech on the Senate floor, calling on his party to find its resolve again.
Mr. Booker later told the AP that a significant political shift had begun, and that his party was trying to learn from its mistakes in the 2024 presidential election.
Booker, a 2020 presidential candidate, has not ruled out running in 2028, though he is currently focused on his 2026 Senate re-election race.
There is broad consensus among Democrats, and even some Republicans, that what Mr Trump is doing to the global economy could help accelerate a Democratic comeback.
Ezra Levin, co-founder of the progressive group Indivisible, has criticized Democratic officials’ response to Mr. Trump’s leadership in recent weeks. But on April 4, he highlighted the political consequences for Republicans after Mr. Trump proposed the reciprocal tax.
“For voters, widespread price increases are unpopular. It’s the kind of thing that could wipe out an entire generation, 1932-style,” he said.
