Many of you have probably heard the news about President Trump and the new tariffs that he has imposed. The real question is, will these tariffs do anything for the country or simply turn the global economy into complete chaos?

Well, some students in Wayne Hills have different opinions regarding this issue. But, before we get to their statements, let’s take a look at the plan that President Trump has with these tariffs.

Tariffs are taxes on imports, meaning that when goods come into the U.S. from other countries, the government charges a fee for them. The real question regarding these tariffs is whether they are good or bad for the country.

First of all, President Trump’s tariff plan is projected to raise significant revenue as of April 8, 2025, which can be used to reduce federal debt. The overall financial pressure on corporations could rise significantly due to increased costs from tariffs, even though the corporate tax rate itself remains at 21%.

By making these goods more expensive, tariffs can encourage consumers to buy American-made products, which can lead to more jobs and wages in these sectors. In terms of the broader economic impact, larger tariffs would cause an economic burden for the country. As tariffs impose a direct tax on imported goods, this will either burden consumers or producers. This means that when these tariffs are imposed on imports, the cost of those goods generally increases.

This table shows how tariffs are expected to raise revenues of about $16 trillion, which can be used to reduce federal debt.

As of April 10, 2025, a 10% tariff remains on a wide range of imported goods, though some specific tariffs have been adjusted or suspended. Goods from China face a higher tariff of 145%. Even though Trump has suspended many of his new tariffs, there is still a significant rise in the sale of many goods.

The majority of students at Wayne Hills believe that the tariffs imposed by President Trump are harmful to the U.S. economy. A freshman believes that “the tariffs are ultimately harmful to many people, as they will raise prices on imported goods and make everyday items more expensive for us.” However, a sophomore states, “When goods are imported from other countries, they often come with additional costs, such as shipping, tariffs, and international trade fees, which naturally drive up their prices. It only makes sense to impose tariffs on these imported goods to help balance the price difference and support domestic industries, ensuring that local products remain competitive in the market.”

In conclusion, while there are arguments on both sides regarding the impact of President Trump’s tariffs, it is clear that these policies have sparked significant debate on their potential to benefit or harm the U.S. economy. Whether they successfully reduce the federal debt and boost domestic industries or cause economic strain and higher consumer costs remains uncertain.