Big Take Crunching the Numbers on President Trump’s Trade War
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Jul 27, 2025 Shawn Donnan, a senior economics writer at Bloomberg, delves into the real-world effects of President Trump's trade policies. He highlights how tariff extensions are shaking up various sectors, detailing the strain on global economies and consumer prices. The discussion also sheds light on the new trade agreements emerging as countries adapt to U.S. isolationism. Donnan analyzes the chronic price increases in industries like autos and pharmaceuticals, revealing the lasting impact on both the U.S. economy and global trading dynamics.
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Trade War Creates Economic Uncertainty
- President Trump's tariffs have created economic uncertainty that drags on both business investment and hiring.
- Early evidence shows imports swelling then falling, and exports, notably from China and Japan, contracting significantly.
Tariffs Impact Wine and Auto Parts
- French wine producers face a glut of unsold wine due to U.S. tariffs freezing European wine exports.
- Japanese auto parts makers are laying off workers as exports to the U.S. drop because of tariffs.
Investment Growth Slows Amid Tariffs
- Business investment in U.S. fixed capital is barely growing, signaling a warning sign for economic health.
- Slow growth in investment threatens to undercut the administration's promise that tariffs would boost manufacturing in the U.S.