Barackface: The Coming Storm: What Happens Now That Trump Has Slapped Tariffs on the Entire World

Sunday, April 06, 2025

The Coming Storm: What Happens Now That Trump Has Slapped Tariffs on the Entire World

The Coming Storm: What Happens Now That Trump Has Slapped Tariffs on the Entire World

Former President Donald Trump has long teased a return to aggressive protectionist policies if reelected, including sweeping tariffs on imports from just about every country. While this might play well with a certain slice of the electorate looking for a simple answer to complex global challenges, the real-world effects would be and have been swift, far-reaching, and chaotic. Here's what we might now that Trump has followed through on his promise of universal tariffs.

1. Crashing Stock Markets

Global investors hate uncertainty—and nothing says “economic whiplash” like blanket tariffs. Overnight, companies reliant on global supply chains would see costs skyrocket, profit forecasts slashed, and investor confidence shaken. From Wall Street to emerging markets, a worldwide tariff war could ignite a massive selloff.

2. Dramatically Higher Prices on Everyday Goods

Tariffs are, at their core, taxes on imports. And guess who pays those taxes? Consumers. Everything from smartphones and TVs to sneakers, furniture, and even groceries could see double-digit price hikes. For a nation already weary of inflation, this could feel like throwing gasoline on the fire.

3. Voter Blowback

Trump has made reducing inflation a key part of his pitch for 2024. But imposing tariffs that result in 10%, 20%, or even 30% price hikes on household goods? That’s political suicide for any president banking on economic relief for the working class. Expect backlash not just from Democrats, but from independents and even parts of the Republican base.

4. Just Plain Chaos

With global supply chains already under strain post-COVID and amid rising geopolitical tensions, throwing tariffs into the mix could lead to widespread disruptions. Delays at ports, shortages of key items, confusion over pricing, and retaliatory tariffs from other countries would create a storm of unpredictability for both businesses and consumers.

5. Increased Likelihood of Conflict

History shows that economic distress and geopolitical tension often go hand in hand. When domestic crises worsen, leaders sometimes turn to foreign policy distractions. A Middle East war—or escalation in Ukraine, Taiwan, or the South China Sea—could serve as a political pressure valve. That’s not a guarantee, but it’s a disturbing possibility.

6. Retaliation from Global Partners

China, the EU, Mexico, Canada—none of these major trading partners would sit idly by. Retaliatory tariffs on American exports would hurt U.S. farmers, manufacturers, and small businesses, especially in red states that helped elect Trump in the first place. Think soybean tariffs, auto industry slowdowns, and collapsing export deals.

7. Undermining Dollar Dominance

Sweeping tariffs could accelerate the global shift away from dollar-based trade, especially if targeted countries begin forming new trade alliances that exclude the U.S. The long-term result? Erosion of America's financial hegemony, which has helped keep borrowing costs low and global influence high for decades.

8. A Blow to Small Businesses

Big corporations can absorb price shocks, reroute supply chains, or even relocate manufacturing. Small businesses? Not so much. Main Street America would be hit the hardest, caught between soaring costs and customers unable to afford price increases.

9. Supply Chain Nationalism

Tariffs may prompt a push for “Made in America” goods, but rebuilding domestic industries isn't a light switch—it takes years, if not decades. In the short term, we’d see more shortages, more bottlenecks, and more economic fragmentation.

10. Alienation of Allies

Tariffing friendly nations like Canada, the UK, or South Korea would erode trust, damage alliances, and make it harder to coordinate on shared global challenges like climate change, cybersecurity, or containing authoritarian powers. Isolationism may sound strong in speeches—but it’s weak in strategy.

Final Thought: Be Careful What You Wish For

The idea of using tariffs to “punish” other countries sounds powerful on the stump. But in practice, it’s a self-inflicted wound—on consumers, businesses, allies, and America's global standing. If Trump goes all-in on tariffs, and he has, the immediate effects won’t be strength or prosperity. They’ll be pain, protest, and potential catastrophe.