Dhaka,
Tue
08 Apr 2025, 06:55 pm
Tariffs' toll: a lose-lose economic gamble
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For more:
https://www.cgtn.com/video
The U.S. government has been keen on imposing tariffs to protect domestic firms, create jobs and ensure national security. However, this move has backfired. U.S. manufacturers depend on imported parts, and tariffs have increased costs while weakening competitiveness. Forcing companies to return to the U.S. has driven many to low-cost countries like Vietnam. Experts say tariffs have failed to boost employment and are slowing innovation in tech firms. Steel tariffs, justified on national security grounds, affect only 3 percent of imported steel used for defense. Politicians’ tariff push is set to plunge the American economy into a more difficult situation.
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