Trump's Tariff Storm: A New Era for Global Trade?

Name: Trump's Tariff Storm: A New Era for Global Trade?
Uploaded: 2025-07-14T16:00:45+00:00
Duration: 3 min 22 s
Channel: Money Explainers

Money Explainers

President Trump's new tariffs are shaking up global trade! Mexico, EU, Canada, and Brazil are in the crosshairs. What does this mean for the economy?
A 30% tariff on Mexico and the EU, 35% on Canada, and 50% on Brazil. President Trump's latest move could redefine international trade.
Tariffs are boosting the federal budget, but experts warn of recession risks. Will Trump's new tariff strategy pay off or backfire?
#EconomicOutlook #TradeWar2025 #TrumpTariffsUnleashed

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00:00President Donald Trump has, in recent hours, announced a new wave of tariffs, targeting

00:05several key countries. Reaffirming his commitment to using tariffs as a major economic policy tool,

00:11despite previous market backlashes, he has sent over 20 such letters to trading partners this

00:16week. Here are the details of the newly announced tariffs. Mexico. President Trump has declared a

00:2230% tariff on goods from Mexico, set to take effect on August 1. In a letter to Mexican

00:28President Claudia Scheinbaum, President Trump stated that this tariff is, in part, a response to

00:34cartel activity and the flow of fentanyl into the United States. He added that this tariff is

00:39separate from all sectoral tariffs and could be modified upward or downward, depending on our

00:45relationship with your country. European Union. A 30% tariff on goods from the EU has also been

00:51announced, effective August 1. President Trump informed European Commission President Ursula von

00:57Lunderlein, that the U.S. has one of our largest trade deficits with the EU, which he views as a

01:02major threat to our economy, and indeed, our national security. Lunderlein has expressed concerns,

01:08stating that such a tariff would hurt businesses, consumers, and patients on both sides of the

01:13Atlantic, and that the EU is prepared for proportionate countermeasures. Canada. On Friday,

01:19President Trump announced a 35% tariff on Canadian goods, also beginning on August 1, Brazil.

01:25The president has also stated his intention to impose a 50% tariff on Brazil. This move is

01:33reportedly in response to attacks on U.S. companies and the prosecution of the country's

01:37former right-wing president, Jair Bolsonaro. President Trump has issued a stern warning to

01:43these and other trading partners. If for any reason you decide to raise your tariffs and retaliate,

01:49then whatever the number you choose to raise them by will be added onto the 30% that we charge.

01:53These announcements come as the federal government has seen a significant boost in its budget from

01:58tariffs. In June, the government collected $26.6 billion in tariff revenue, a substantial increase

02:06from previous periods. This, combined with a $187 billion reduction in government spending,

02:13resulted in a $27 billion budget surplus for June. The Treasury Department indicated that tariffs are

02:19starting to have a positive impact on the federal budget. A budget surplus can potentially help reduce

02:25the national debt, leading to lower interest payments for the government and potentially lower

02:30interest on U.S. Treasury bonds, which can influence other consumer borrowing costs.

02:35The federal government's total debt is around $36 trillion, with $84 billion paid in interest payments

02:42on that debt in June. However, the broader economic impact remains a point of concern.

02:48Earlier this year, on April 2, President Trump imposed sweeping tariffs that he called Liberation Day,

02:55but the majority were put on hold for 90 days shortly after, following a negative market reaction.

03:01It is yet to be seen if this new round of tariffs will spark a similar negative market reaction,

03:06and if President Trump will maintain them or impose another delay. A recent survey of U.S.-based finance,

03:13procurement, and supply chain professionals found that 84% believe Trump's tariffs could trigger a

03:19recession in the U.S. this year. Money expires

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Trump's Tariff Storm: A New Era for Global Trade?

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