Trump's Tariff War Risks Backfiring on Unpopular President
US President Donald Trump's decision to impose a 50% tariff on Canada has sparked a trade war that could harm his re-election chances, experts say. The move is part of Trump's strategy to extract concessions from America's trade partners, which has previously worked with allies like Japan and South Korea but not with countries like Canada.
Canada's Finance Minister Mark Carney has vowed to retaliate against the US tariffs, pledging a 'dollar-for-dollar' response. This comes as Trump's approval ratings on key issues such as trade, foreign policy, and immigration have plummeted in recent months.
The Supreme Court has already ruled against Trump's most sweeping assertion of unilateral tariff authority, leaving the administration scrambling to find alternative ways to impose tariffs. With consumer sentiment severely depressed across the US economy, a worsening labor market, and inflation outstripping wage growth, the timing of this trade war could not be worse for Trump.