Trump tariffs on Canada, Mexico and China (and likely the EU to come)

[monsta666]

It would seem Trump is now following through with his tariffs promises and has now signed off on the bill to introduce 25% tariffs to Canada and Mexico (only 10% for Canadian energy) plus an additional 10% tariff charge for China. The news went down like an lead rock leading to Canada and Mexico threatening to introduce retaliatory tariffs. China, for now at least, has taken a more restrained response by filing a lawsuit to the World Trade Organisation.

What are your thoughts on future developments and what impacts do you foresee for the American consumer and beyond? When will it end and do you see further escalations and possible tariff wars?

[RE]

What are your thoughts on future developments and what impacts do you foresee for the American consumer and beyond? When will it end and do you see further escalations and possible tariff wars?

The first fairly obvious outcome is it will increase inflation, which El Trumpo promised he would tame.  Together with the fact he's not getting interest rates down will begin undermining his support base.  Failure with the economy does not play well, even  with MAGA-ots.

More Captain Obvious outcomes are retaliation with tariffs going the other way and an overall slowdown in trade volume.  That's not good for anybody's GDP, so for countries not yet in recession, it may tip themover the edge.

The intangible issue is how this will affect political relationships overall.  I think it reduces trust and will make negotiations on other issues more difficult.  By itself it's not a disaster, but in combination with other factors it could turn into one.

RE