Trump's 'Liberation Day': Tariffs Break Wallets, Not Trade Deficits
On April 2, 2025, President Donald Trump heroically unveiled his 'Liberation Day' tariffs in the White House Rose Garden, confidently brandishing a chart no one asked for. Promising billions back home and revived manufacturing, he apparently forgot consumers pay the tab. Bank of America analysts, featuring Aditya Bhaveās economic wisdom, revealed Americans have covered 50% to 70% of these tariff costs, pushing inflation like a stubborn shopping cart. Meanwhile, S&P Global snapped at businesses, a $1.2 trillion bill incoming this year. China and Canada get the special tariff treatment as the PCE price index inches up, and economists can only sigh. Freedom from cheap imports tastes a lot like pricey groceries.
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Trumpās tariffs came to liberate Americans from affordable prices, but inflation had other plansānow you're just purchasing freedom at a mark-up. Spoiler: your wallet lost the trade war.
Nothing says economic genius like a $1.2 trillion bill for businesses and 50-70% of tariff costs shoved onto consumers. Hereās to āMaking America Wealthy Againāājust donāt ask whose wealth.
April 2, 2025: Trump unveils tariffs called 'Liberation Day' because nothing screams freedom like watching prices inflate quietly while economists facepalm.
Source: Businessinsider | Published: 11/3/2025 | Author: Nora Redmond
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