Minutes after Donald Trump announced a retreat on tariffs, softening a significant US attack on global trade, his press secretary reprimanded reporters at the White House. The 90-day suspension of extensive tariffs on numerous countries, the latest puzzling reversal on tariffs since his presidency, evoked a different story. “Really, like the boy who cried wolf, you can only do this so many times,” said John Cochrane, an economist at Stanford University. “It really does piss people off.” Trump and his officials consistently advocate for high tariffs, claiming they would attract manufacturers, tax the world, and prompt countries to negotiate new deals with the US. However, economists are doubtful about this strategy. The implementation of slated tariffs has been inconsistent, with administration officials offering contradictory explanations. Even Trump struggled to justify this maneuver as part of a carefully planned strategy. Just ten days earlier, Trump imposed a 10% tariff, despite warnings of disruption. On Wednesday, hours after introducing higher tariff rates, Trump abruptly announced a 90-day pause on most of these rates. The uncertainty caused by Trump’s unpredictable policymaking has a longer-term economic cost, like the impact on international trade agreements and the added uncertainty in cross-border transactions.

Source: https://www.theguardian.com/us-news/2025/apr/12/trump-economy-tariffs-analysis