Trump’s Tariff Policy: A Double-Edged Sword in Economic Diplomacy

President Donald Trump admitted U.S. consumers pay more due to tariffs he imposed, acknowledging a cost for a policy he claims benefits Americans. Despite insisting other nations bear the financial burden, economic experts affirm tariffs impact American consumers, leading to ongoing debate over their effectiveness.

In a surprising acknowledgment on Thursday, President Donald Trump admitted that U.S. consumers are experiencing higher prices due to the tariffs he has enforced, a notable departure from his usual rhetoric that these charges benefit Americans. Trump has characterized tariffs as a significant economic tool since taking office.

Contrary to Trump's claims, economists agree that the costs of tariffs are borne by consumers of the imported goods. Nevertheless, Trump continues to assert that the economic gains outweigh these costs, despite the Supreme Court's looming decision on tariff legality.

Facing potential challenges from a Supreme Court ruling, Trump remains adamant about retaining tariffs as part of his economic strategy to resolve international disputes. He stressed the importance of tariffs in ensuring economic fairness, cautioning that their removal would necessitate developing alternative strategies.

(With inputs from agencies.)