Donald Trump’s announcement of new tariffs on a wide range of countries marks the fulfillment of a long-held goal. Throughout his career, Trump has consistently advocated for tariffs as a means to boost the U.S. economy. At a Rose Garden event, he celebrated his decision, referencing his past criticisms of free trade agreements and emphasizing his belief that tariffs will restore America’s economic strength.

Trump’s tariffs, which include charges as high as 53% on China and 20% on the EU and South Korea, are a gamble with significant risks. Economists warn that such tariffs could lead to higher consumer prices and even a global recession. Some predict a 50% chance of the U.S. falling into a recession. Moreover, this move could escalate trade tensions with key allies like Japan and South Korea.

Despite the risks, Trump remains confident, arguing that these policies will revitalize U.S. manufacturing and make America more self-reliant. He believes this will reshape the global economic order and bring long-term benefits. However, the ultimate impact remains uncertain, and the decision could define his presidency, either as a historic achievement or a costly misstep.