February 19, 2025
The National News Desk recently published an article featuring Justin Ren, Assistant Professor of Operations and Technology Management, discussing how President Donald Trump plans to impose tariffs on imports like automobiles, semiconductors, and pharmaceuticals, starting in April.
Trump plans to implement 25% “reciprocal” tariffs to boost U.S. manufacturing, though this could raise consumer prices and spark retaliatory tariffs, potentially leading to a trade war. While he sees tariffs as essential for economic security and encouraging domestic production, economists warn they could hinder growth and fuel inflation.
“Certainly, there are things we can predict, and things we will not know for sure. We can predict that demand for foreign cars, semiconductors and pharmaceutical products will be tampered because of their higher costs. But what we cannot predict is to what extent the decrease will be, and how companies will react,” Ren adds.
Despite challenges, companies may move production to the U.S. to avoid tariffs, though this transition could take years.