Trump's Tariffs: Economic Gamble or Global Gamble?

President Donald Trump's initiation of raised import tariffs on over 60 countries, including heavyweights like the European Union, Japan, and South Korea, marks a contentious economic gamble. These tariffs, which come into effect Thursday, range from 10% to 50%, depending on the country and goods.

Hoping to revitalize the U.S. economy, Trump claims these measures will lead to unprecedented growth and expects substantial foreign investments as a result. However, domestic fallout is already visible, with early signs of stalling job growth, rising inflation, and declining home values in key markets, leading economists to worry about a slow erosion rather than a swift collapse.

Trump's approach, marked by abrupt changes and legal challenges, has drawn skepticism, even among former allies like Paul Ryan. While the stock market shows resilience, questions over the long-term impact of such economic policies loom large, with some experts voicing concerns over the administration's erratic handling of trade policies.

(With inputs from agencies.)