Trump tariffs are not as significant as some people suggest. The truth is that they are tools of economic warfare and are frustratingly impactful on the day-to-day life of Americans and British citizens alike. Under the umbrella of heightened living costs and cut-throat protectionism, these tariffs take advantage of the already dire consumers’ situation by forcing them to pay more than is necessary for their daily necessities.
Skyrocketing Prices on Everyday Essentials
The worst kind of pain inflicted by Trump’s tariffs is the increase of prices in day-to-day items. Merchandise that ranges from clothing and electronics to raw materials is charged hefty duties. With a desire to safeguard domestic industries, where are we headed to next? In reality, this form of protectionism has resulted in increased expenses for industrialists which they pass on to the consumers. And the horror story doesn’t end here – with each increase in tariffs comes an increase in household and grocery expenses and with that, the feeling of anger and frustration continues to stir up in this increasingly hostile economic environment.
A Trade War That Backfires
As was the aim with the Trump tariffs, they were designed to negotiate better deals with other countries which, in theory, would make things cheaper. But instead of achieving this, they have created a mess which has resulted in a violence-fuelled back-and-forth conflict that has displaced supply chains everywhere.
The global marketplace has found itself in the middle of a conflict where all major partners are bound to retaliate in one way or another. Now there is even more chaos that needs to be dealt with and we all know how chaos feels – no one actually knows and figuring that out is expensive. A consumer only stares at the bills incurred and never at the ruptured trade system. A trade system that employs geopolitical brandishing as a tool of influence.
Supply Chain Disruptions and Product Shortages
These Trump tariffs are the sole reason behind the consecutive blockage of uninterrupted trade, which has resulted in valuable supply chains getting completely obliterated. There is an endless list of poor repercussions such as increasing delays and the lack of availability of products. Having an empty retail shelf that was supposed to be filled with imported goods was once unimaginable. Now these drastic changes to try and adapt to these new tariffs have left everyone with higher prices to pay than before.
The Corporate Policy of Greed and Joint Effort with the State
The concept behind “fair trade” and “job protection” surfaces an ugly truth. The Trump tariffs did not hide the collusion that exists between large corporations and government. While politics and business claim that these actions will protect the national market, the reality is that the consumers are the ones who take up the slack with higher prices. Rather than employing tariffs to create competition or assist new enterprises, these actions are extremely profitable to those in power while the citizens and consumers hurt instead.
Conclusion
The world is dominated by political dialogues surrounding the so-called Trump tariffs and their impact on finances, but the reality is this: it hits you in the wallet the hardest. To provide protection to US jobs and industries, these tariffs were enforced, but they have only caused inflationary pressures, complications in the supply chain, and chaos due to trade wars.
With all this going on, everyday people appear to be paying the highest costs. As the fallout continues from the war, we would be remiss to ignore that this policy is immensely harmful. On the surface it may appear to protect jobs, but in the long run it’s extremely beneficial to corporate elites and politicians. When we analyse the impact on common citizens, it is astonishingly brutal.
How Outsourcing Can Help Mitigate Tariff Fallout
Faced with some harsh and aggressive free trade policies, companies coupled with savvy consumers can mitigate the risks by outsourcing certain parts of businesses. Outsourcing market research, financial management, and supply chain management will help companies navigate the hostile environment aggressively posed by the Trump tariffs.
Business consultants with access to current technology and global insights can make it simple to restructure the business to take advantage of the opportunities that minimise the impacts of tariffs. This approach does not only increase the survival chances of these companies but also relieves customers of the costs associated with these wars.
