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On April 2, 2025, President Trump

announced sweeping tariffs on nearly all imports—setting off a global chain reaction now shaking the world's economy. This Padlet breaks down what happened, how countries and markets are reacting, and why it all matters to us.

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Section 1: Trump’s “Liberation Day” Tariffs

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Section 1: Trump’s “Liberation Day” Tariffs

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Trump launched a bold new trade policy—calling it “Liberation Day.” It includes a 10% tariff on nearly all imports and even higher rates (up to 54%) on goods from China, Vietnam, Mexico, and others.

Why it matters:

It’s a direct attempt to bring jobs back home—but it could raise prices and disrupt global trade.

Recent Response:

U.S. manufacturers are split—some cheer the protection, others fear losing international partners.

Economists warn this could be inflationary and provoke retaliation.

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Major U.S. trading partners are hitting back.

China: 34% tariffs on U.S. goods

Canada & Mexico: Strong retaliatory tariffs

EU: Coordinated pushback expected

Why it matters:

This tit-for-tat raises prices globally and threatens long-standing trade relationships.

Recent Response:

Canadian PM called U.S. tariffs “economic betrayal”

China warned of “decoupling consequences”

EU pushing for emergency WTO talks

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Wall Street reacted immediately. Major indexes dropped, investors scrambled for safety, and talk of a recession has begun.

Why it matters:

Market drops affect jobs, savings, business confidence, and retirement plans.

Recent Response:

Dow dropped over 800 points in 2 days.

Gold prices spiked.

Banks lowered U.S. growth forecasts for 2025.

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Back home, the debate is heating up. Some back Trump’s tough stance. Others want Congress to rein in presidential tariff powers.

Why it matters:

This could reshape who controls U.S. trade policy going forward—and impact elections.

Recent Response:

Bipartisan bill introduced to limit executive power on trade.

Business lobbies pushing for rollback.

Trump’s base mostly supports the move.

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This isn’t just politics—it touches your everyday life.

Expect higher prices on tech, food, clothing.

Supply chains are shifting, affecting job markets.

Inflation could rise even more.

Why it matters:

This could impact your shopping, your job, your bills—and even the next election.

Recent Response:

Consumer advocacy groups warning about price hikes.

Small businesses facing sourcing challenges.

Economists fear long-term damage to middle-class spending.

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U.S. Tariff Hike Targets Turkey Amid Record Export Growth

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U.S. Tariff Hike Targets Turkey Amid Record Export Growth

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Turkey has been slapped with the baseline 10% tariff introduced by Washington as part of Trump's extensive new levies, which has set rates as high as 40% on some countries. Turkey is a major global exporter, with sales worldwide hitting a record $262 billion last year.

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The effect of tarrif tax on usa and the world 

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The effect of tarrif tax on usa and the world 

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Trump’s tariff taxes, especially during his presidency from 2017 to 2021, were mainly targeted at countries like China, aiming to reduce the U.S. trade deficit and protect American industries. But due to this there were some complications and were ahead let's see some of those

1. Increased Costs for American Consumers and Businesses

Tariffs are taxes on imports—so when the U.S. imposed tariffs on Chinese goods, it made those goods more expensive.

U.S. businesses and consumers paying higher prices for things like electronics , machinery and manufacturing products etc.

Example: A car manufacturer in the U.S. might pay more for steel or parts from abroad, raising the final car price.

2. Retaliation from Other Countries

China and other countries hit back with their own tariffs on American products like soybeans, pork, and whiskey.

This especially hurt American farmers, as their biggest buyers (like China) started buying from other countries.

The U.S. government had to pay billions in subsidies to farmers to compensate for these losses. This was one the big consequences usa had to face due to tarrif tax .

3. Uncertainty for Global Trade

Companies around the world became less confident about global trade stability.

Many delayed or canceled investment decisions, affecting economic growth not just in the U.S., but globally.

4. Slowed Global Growth

The U.S. and China are the two biggest economies. Trade tensions between them created a domino effect—other countries that rely on exporting to or importing from them also suffered.

Example: Countries like Germany, South Korea, and Japan—big exporters—saw slowdowns in manufacturing.

5. No Major Reduction in Trade Deficit

One of Trump’s goals was to reduce the trade deficit (when a country imports more than it exports).

But despite the tariffs, the U.S. trade deficit stayed large, because American demand for foreign goods remained strong.

IN A NUTSHELL

U.S.: Higher prices, hurt farmers and manufacturers, billions in government payouts.

World: More uncertainty, reduced investment, and slower global economic growth.

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President Donald Trump raised the tariff on Chinese imports to 125% on Wednesday, hours after China boosted the duty on American goods to 84% in an escalating battle that threatens to disrupt trade between the world’s two largest economies.

Citing a lack of respect, Trump set China apart from other countries. He said in a social media post that he is pausing his so-called “reciprocal tariffs” on many other trading partners because they had responded by reaching out for talks rather than retaliating.

The tit-for-tat hikes between the U.S. and China are the latest in an ongoing trade war that threatens to raise prices for consumers in America and derail China’s attempts to reinvigorate its sluggish economy. The response from the Chinese government signals its determination not to bend to Trump’s pressure, despite the ri#sks.

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The kind of thing you can't even imagine, like a spat with countries about buying and selling stuff. That’s a trade war with the world, where they add taxes (tariffs) to each other’s goods. One of the biggest shocks is that big players like USA and China are greatly affected — more expensive for them and selling less to each other. This can impact other nation that trades with them and send ripples through the world economy.

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A global trade war might make a lot of imported goods in the USA more expensive — everything from electronics to clothing. American companies that depend on these imports may suffer, and some export-heavy industries such as agriculture will have problems as other nations respond with their own tariffs. This would result in consumers paying more and businesses in the USA undergoing uncertainty.

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Trade Troubles: How They Mess with Money Values

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Trade Troubles: How They Mess with Money Values

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In a global trade war, the values of different countries' money (currencies) can bounce around a lot! If a country puts high taxes (tariffs) on another's goods, their currency might get weaker as they sell less. Sometimes, countries might even try to make their own money worth less on purpose to make their exports cheaper. This can make things you buy from other countries more expensive and create a lot of uncertainty in the world's money markets.For example, the USA has increased tariffs on goods from China. Because of this, some people think Chinese Yuan might become less valuable as they sell fewer things to the USA. On the other hand, if people see the USA as a safer place for their money during this trade fight, the US Dollar might become stronger.

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PAUSE ON TARRIF - Its effect on Stock Market!!

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PAUSE ON TARRIF - Its effect on Stock Market!!

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President Donald Trump announced a 90-day pause on all “reciprocal” tariffs except those imposed on China, which will see tariffs increased to at least 125%. The US stock market soared on the news, with the S&P 500 posting its best day since October 2008. Asian markets were also rallying early on Thursday.

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The World Trade War: 2nd Side of the Coin

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The World Trade War: 2nd Side of the Coin

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While the negatives of the world trade war severely outweigh its positives, its important to understand its positives to completely analyze the situation.

As the the high prices are making the prices of foreign goods soar, the domestic companies can enjoy the decreased competition. With imported goods going beyond the affordability of many people, they may seek the products of domestic companies, increasing their sales. For example, the US textile industry may temporarily flourish.

Also, the rising sales may increase employment to meet demands of the market.

As US and China look for alternative sources for different goods, other countries such as India may step in while improving their own economies.

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As of April 21, 2025, the U.S.–China tariff conflict has intensified, with significant developments impacting global trade and economic stability.

Key Developments

Escalation of Tariffs: The U.S. has increased tariffs on Chinese imports to 145%, prompting China to retaliate with tariffs up to 125% on American goods. These measures have disrupted global supply chains and heightened concerns about a potential global recession.

China's Diplomatic Warnings: Beijing has cautioned other nations against forming trade agreements with the U.S. that could undermine Chinese interests, threatening countermeasures against those who "appease" Washington.

Impact on Major Corporations: The U.S. has imposed stricter export controls on AI chips to China, affecting companies like Nvidia and AMD, which anticipate significant revenue losses.

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China in retaliation has taken the war into the digital front by exposing US's ,Europe's luxury brands.China is increasingly using its vast consumer base and media influence to expose and pressure Western luxury brands as part of a broader strategy of economic nationalism. By targeting brands like Nike, Coach, and Burberry through state media, regulatory probes, and viral social media campaigns, China highlights issues such as cultural insensitivity, unfair pricing, and poor quality. These exposés often lead to public backlash and boycotts, pushing global brands to localize their strategies or risk losing access to the lucrative Chinese market. At the same time, China is promoting domestic alternatives, positioning homegrown brands as patriotic and fashionable choices, thereby challenging Western dominance in the luxury space.

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Trade negotiations and domestic industries 

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Trade negotiations and domestic industries 

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U.S.-India Trade Agreement: India is in advanced discussions to finalize the first phase of a trade agreement with the United States by autumn 2025. As part of the negotiations, India is considering reducing tariffs on over half of its $41.8 billion worth of imports from the U.S., including eliminating import taxes on U.S. ethane and liquefied petroleum gas (LPG).

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Effects of tariff taxes on india:pros and cons 

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Effects of tariff taxes on india:pros and cons 

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Tariff taxes have had a mixed impact on India, influencing its economy in several key ways. On the positive side, they help protect domestic industries by making imported goods more expensive, which encourages consumers and businesses to buy locally produced products. This protection can be especially important for developing sectors and small manufacturers, boosting local employment and supporting India's goal of self-reliance under initiatives like Aatmanirbhar Bharat. However, tariff taxes also have downsides. They can increase the cost of essential imports such as raw materials, fuel, or high-tech components, leading to higher production costs and inflation. For consumers, this often means paying more for everyday items. Additionally, high tariffs may discourage foreign investment and strain trade relations, making it harder for India to access global markets or strike favorable trade deals. Overall, while tariffs can offer short-term protection, their long-term effects depend on how strategically and selectively they are applied.

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The U.S.-China Trade War: Tariffs as an Economic Pressure Tool

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The U.S.-China Trade War: Tariffs as an Economic Pressure Tool

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The U.S.-China trade war, which began during Donald Trump's presidency in 2018, was primarily about employing tariffs—taxes imposed on imported products—as a means to pressure China into modifying its trade policies. The U.S. imposed tariffs on more than $360 billion of Chinese goods, accusing China of cheating such as intellectual property theft and requiring U.S. companies to transfer technology. China retaliated with its own tariffs on some $110 billion of American products, particularly such things as automobiles, factory equipment, and farm products. U.S. soybean exports declined by over 75% in 2018 following China's tariffs, for instance. The average tariff level on Chinese imports into the United States also soared—from 3.1% in 2017 to well over 21% by 2019—which increased the price of much merchandise. Economists have stated that the trade war made the U.S. economy lose approximately $316 billion by the end of 2020. In general, this caused many issues for farmers, manufacturers, and consumers alike, and disrupted supply chains, making the global economy more unstable.

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*India to generate 8 million jobs per year for next 10-12 years: Chief Economic Advisor Anantha Nageswaran*

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*India to generate 8 million jobs per year for next 10-12 years: Chief Economic Advisor Anantha Nageswaran*

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India to generate 8 million jobs per year for next 10-12 years: Chief Economic Advisor Anantha Nageswaran

The CEA outlined that artificial intelligence, technology, and robotics are challenges that some of the developed countries of today do not have to face in their developmental journey

India has to generate 8 million jobs per year at least for the next 10-12 years and raise the share of manufacturing in Gross Domestic Product (GDP) as it strives to achieve the vision of becoming a developed country by 2047, Chief Economic Advisor (CEA) to the Government of India V. Anantha Nageswaran said.

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When President Trump's government imposed tariffs on more than $360 billion of Chinese imports in 2018, it wasn't only the U.S. and China that suffered. The global supply chain system, based on the free flow of goods across borders, was drastically impacted. The companies that once relied on China for cheap labor and inputs saw their production costs increase overnight. American automobile manufacturers that imported parts from China, for instance, now paid more, and consequently, consumers paid more. The same is true for electronics manufacturers such as Apple, which outsourced assembly to Chinese factories, with their margins decreasing as companies passed the tariffs along to customers.

Consequently, most multinational firms started relocating their businesses to nations such as Vietnam, India, and Mexico in a bid to avoid the increasing tariffs. Nevertheless, this relocation wasn't without its complications. New supply chains and production facilities were more difficult to set up, resulting in manufacturing holdups and supply chain bottlenecks. The move also led to shortages in supplies for several industries, including technology and agriculture, as companies rushed to adjust to the shifting global trade landscape. In reality, supply chain disruptions globally were one of the main causes of the higher inflation rates experienced in 2020 and 2021, with products becoming more costly across the globe.

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https://www.business-standard.com/amp/external-affairs-defence-security/news/loc-ceasefire-violation-india-pakistan-pahalgam-terror-response-125042500170_1.html#amp_tf=From%20%251%24s&aoh=17455745142828&referrer=https%3A%2F%2Fwww.google.com