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Trump’s tariff pain: the growing evidence

Finance & economics| Will he? Won’t he?

Trump’s tariff pain: the growing evidence

As “liberation day” nears, American businesses suffer

A $100 bill with 'MAKE AMERICA GREAT AGAIN' cut out of it, placed on a red background with letter fragments scattered below

Illustration: Ricardo Tomás

AMERICA’S ECONOMY is looking peaky. Inflation expectations are creeping up. On March 25th consumer confidence fell to its lowest in 12 years. But Donald Trump, the country’s president, says relief is at hand. “Liberation day” for the economy will arrive on April 2nd, he proclaims, when he intends to slap hefty new tariffs on imports from all over the world.

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