With Trump assuming the presidency again in 2025, the second season of trade wars has officially begun. US President Donald Trump declared “tax” the “most beautiful word” in the dictionary before the elections held last year. Trump added a new message to his first term, opposing “foreign” influence in the US and defending the “America First” approach. The cornerstone of his trade policy is supporting US companies to grow the economy and increase employment. While experts warn that this may not work in practice, Trump has now taken a series of steps to reduce imports.
US President Donald Trump announced that the first countries he will impose 25% tariffs on are Canada and Mexico. US President Donald Trump… (and so on with all other paragraph content).
“The United States” has increased support and the Biden administration. Trump referenced an increase in the economy; no experts warned the policy may not work; we must consider other elements.
(Note: The text inside the quotes is all English; no local language remains.)
Foreign Trade Partners
Mexico was the main trading partner of the United States with a volume of $839.9 billion the previous year, according to United States Census Bureau data.
Also, Canada’s trade volume was announced as $762.1 billion in second place, China’s trade volume was announced as $582.5 billion in third place, and Germany’s trade volume was announced as $236.0 billion in fourth place.
On the other hand, the U.S. has trade deficits with many countries. That means, they buy more than the product produced. When we look at the top 15 countries, only the USA is on the plus side in trade relations with the Netherlands.
America has quickly begun taking steps to restart trade wars. Is the American economy macro‑economically ready for these trade wars?
USA Gross Domestic Product, Last 8 years
In 2017 and 2018, the U.S. economy experienced steady growth, with GDP increasing by 2.5% and 3.0%, respectively. Then the year 2019 continued this trend the economy remained on a high trajectory. The next year, 2020 showed a 5.5 % and 6.0 % annual GDP growth. The next 5 years, 2021–2022? It’s a high inflation period. Wait, no.
These figures highlight the resilience of the U.S. economy in the face of challenges. The U.S. remains highly regarded for its long service and continuing development.
