Trump’s erratic and extreme tariff policies—including steep tariffs on China and shifting rates for other countries—have triggered global economic instability, shaken allies' trust in the U.S., and risk long-term damage to America’s economic leadership.

While countries like China and members of the EU seek to preserve global trade relationships and minimize reliance on the U.S., Trump’s unpredictable approach has led many to start planning for a world where the U.S. is no longer a reliable economic partner. This uncertainty is eroding investor confidence, weakening the dollar, and raising serious concerns about the future of global trade order.

“We don’t know what the U.S. is doing. We don’t know why they’re doing it, and they seem to revel in the fact that they’re causing trouble, economic pain and consternation all across Europe and the world,” Ryan Monarch, assistant professor of economics, tells Splinter.

In the Associated Press article, “FACT FOCUS: Trump exaggerates revenue from tariffs,” Monarch says, “it’s a very bad assumption to assume that purchases are just completely unchanged,” despite increased tariffs. 

Monarch was also a guest on the Tax Chats podcast for the segment “Tariffs in 2018: Ryan Monarch on what we know about the first round of Trump Tariffs.”