What do Trump’s tariff policies mean for Illinois and national economy?
S&P 500 Index is displayed at the Nasdaq MarketSite, Monday, April 7, 2025, in New York. AP Photo/Yuki Iwamura
Ten percent tariffs on imported goods took effect over the weekend and even higher taxes will go into place for many countries tomorrow. This includes 25% many Canadian and Mexican goods, 25% on South Korea, a rate of at least 54% on China, which Trump has threatened to make even higher.
The effect on the stock market has been drastic. The S&P 500 was on pace for its largest percentage decline since the Black Monday crash in October 1987. However, stocks go up and down and there was a significant jump in the positive direction as of Tuesday. President Trump says the tariffs will boost the economy-making America wealthy again and will move manufacturing back to the United States.
The message among Republicans is that our economic pain will get worse before it gets better. A panel of experts specializing in economic policies and global affairs discuss how these tariffs might reshape the economy and how our neighbor to the north is reacting to all this.
GUESTS
Hadrian Mertins-Kirkwood
Senior Researcher, Canadian Centre for Policy Alternatives
Cecilé Shea
Nonresident Senior Fellow in Global Security and Diplomacy, The Chicago Council on Global Affairs
Dr. Barbara Ribbens
Director of the Carson and Iris Varner International Business Institute, Illinois State University