OPINION — Among other things, it’s been a rollercoaster year for U.S. trade policy. Citing authority in the 1977 International Economic Emergency Powers Act — IEEPA — President Trump launched a barrage of new tariffs in 2025, plunging the U.S. into trade (and other) disputes with nearly every country in the world.
The president also turned to tariffs amid personal grudges, or in response to political critics. The whiplash of on-again, off-again duties, and responding retaliation, fueled widespread uncertainty for business and consumers alike, all while households continue to face rising prices.
The Trump administration is unilaterally redefining America’s role in the world. Trump’s tariffs don’t just raise costs, they challenge the very norms of relative peace and prosperity, world-wide, of American leadership promoting globalization.
