Donald Trump goes all in with bet that the heavy price of tariffs will pay off for Americans

The tariff announcement was perhaps the boldest manifestation of Trump’s second-term freedom to lead with his instincts. How it shakes out could be a defining judgment on his presidency

Commerce Secretary Howard Lutnick holds a chart as President Donald Trump speaks during an event to announce new tariffs in the Rose Garden at the White House, Wednesday, April 2, 2025, in Washington. (AP Photo/Mark Schiefelbein)

Not even 24 hours after his party lost a key Wisconsin race and underperformed in Florida, US president Donald Trump followed the playbook that has defined his political career: He doubled down.

Trump’s move on Wednesday to place stiff new tariffs on imports from nearly all US trading partners marks an all-in bet by the Republican that his once-fringe economic vision will pay off for Americans. It was the realization of his four decades of advocacy for a protectionist foreign policy and the belief that free trade was forcing the United States into decline as its economy shifted from manufacturing to services.