“Presidential Tariff”: How Trump's trade war could shake up the global economy — and America itself
“I’m a big believer in tariffs,” Trump, then a Manhattan real estate developer with budding political ambitions, told journalist Diane Sawyer. Besides Japan, he felt high tariffs were justified for countries like West Germany, Saudi Arabia, and South Korea. “America is being ripped off,” he said. “We’re a debtor nation, and we need to tax and tariff goods to protect this country.” Trump partially realized his vision during his first presidential term, imposing tariffs on Chinese imports.