Trump's tariffs have been playing hell with the stock market, and several other economic signs signal they are the reason for a weakening U.S. economy that could slip into a recession. If the recession does come, most economists agree it will be largely due to Trump's tariffs.
But Trump doesn't care. He still seems to think that tariffs are the answer to any economic problem. Now he is placing a new round of 25% tariffs on several European nations. Why? Because he thinks it's unfair that the European Union is subsidizing Airbus (which builds large commercial airplanes).
The new tariffs (of about $7.5 billion) will go into effect on October 18th, and will affect products from several European countries. And there's a good chance it will hurt the economies of both those countries and the United States (by making those products more expensive to buy for consumers). It will also just further alienate our best allies, and likely will result in them retaliating against American exports.
Here are some of the products subject to the new tariffs:
sausage & pork products (except ham)
camera parts
industrial microwave ovens
Parmesan Reggiano
Romano & provolone cheese
printed books
sweet biscuits
waffles
coffee
sweaters & pullovers
cashmere & wool clothing
olives
cookies
salami
butter
yogurt
blankets
single-malt Scotch whiskey
French wine
fruits
clams
