“Liberation Day”: An Exercise in Economic Masochism
- Jaden Torres
- 10 minutes ago
- 3 min read
April 2nd, 2025: a date which will live in infamy. The United States of America was suddenly and deliberately attacked by… itself?
That’s right. President Trump made an announcement nothing short of reckless economic self-sabotage—a desperate attempt at nationalist posturing that comes at an exorbitant cost to American consumers and industry. In a spectacle that disgraced the Rose Garden that Trump deemed “Liberation Day,” the President unveiled a sweeping tariff regime that is supposed to correct a $1.2 trillion trade imbalance. Yet, even the tiniest examination reveals how riddled the policy is with flaws, inconsistencies, and damaging items to the American people.
There seems to be a misunderstanding in this country about how tariffs work, so let’s make one thing clear: Americans will pay these tariffs. Since importers are the ones who pay the duty—not exporters—all this will do is raise prices on everything we buy despite this administration being elected to lower prices.
It's been calculated that these tariffs will be higher than those passed in the Smoot-Hawley Tariff of 1930, which sharply exacerbated the Great Depression and is described on one US Senate webpage as “one of the most disastrous acts in congressional history.” Indeed, these tariffs are set to raise prices of everything: cars, produce, electronics, pharmaceuticals... it will be Americans who feel the pinch.
It’s estimated that about half of the cars in America have been imported. That's why the 25% tariff on foreign-made automobiles will be detrimental to Americans buying a new car; in fact, it’s estimated the tariffs will raise car prices by ~$2,500.
Internationally, the fallout is taking shape. Major trading partners are preparing for retaliation. The EU has signaled that it will impose tariffs on at least $28 billion of US exports while Canadian Prime Minister Mark Carney has matched Trump’s auto tariff. Even traditionally close allies like Japan and South Korea are now being forced into a defensive posture, scrambling to recalibrate their trade policies in response to an unpredictable United States.
Critically, President Trump’s tariff regime is not the thoughtful recalibration of trade policy he promised— it’s a reckless, haphazard assault on the foundations of global commerce. Instead of engaging in constructive negotiations, President Trump’s approach is steeped in the zero-sum mentality that only escalates tensions. His relentless use of the bully pulpit to get what he wants without genuine, good-faith negotiation risks igniting a full-blown worldwide trade war.
It’s been noted that these countries have tariffs on the United States, the most noted example by Trump aides is the 50% tariff from the EU on American dairy. My response is two-fold:
While countries do have tariffs on the United States, they are not nearly as broad as the tariffs President Trump has announced.
This notion of reciprocity can actually be dispelled using the example of the EU dairy tariff. Let’s do some quick math:
In 2023, the most recent data year we have, The United States exported $177 million in dairy products to Europe. A 50% tariff on these products comes to ~$88.5 million in tariffs levied on the US in this sector. The President’s response? Putting a blanket 20% tariff on $605.8 billion of European goods entering this country yearly. In other words, that comes out to $121.16 billion in tariffs. Billion, with a B. So please, do not let anyone tell you these tariffs are reciprocal in nature.
In summary, Trump’s new tariff regime is a perilous gamble—a policy steeped in rhetoric yet devoid of pragmatic economic sense. Be not deceived; this policy is not intended to restore America’s manufacturing power; it is designed to feed a dangerous narrative of victimhood and economic grievance and provide a way to blame our politicians’ failures on foreign countries. Ultimately, the tariffs serve as a blunt instrument of economic masochism, punishing American consumers and destabilizing international trade in the name of “reciprocity.” As global markets plummet and domestic industry braces for impact, It has become clear that this latest tariff onslaught is less a defense of American interests and more of a self-imposed economic and diplomatic wound that may take years to heal.
Photo Credit:
[Header]: Chip Somodevilla/Getty Images.
[Embedded 1]: Brendan Smialowski/AFP via Getty Images
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