There is a great shift happening in the western world; How is it impacting us?

BY ADRIAN REECE

Tariffs are the new topic that everyone is talking about. President Trump has instituted high tariffs across all goods that come into the United States. This decision has put pressure on international relations with the states and many of their trade partners. China in particular has retaliated to tariffs by utilizing social media to spread information regarding the manufacturers of high-end luxury goods.

China’s approach has sent social media into a frenzy, with many people elated at the thought of being able to purchase quality goods at a much cheaper price point, while some are calling out these retailers as liars who couldn’t possibly be suppliers of these huge brands.

“It should be noted that Trump is merely implementing reciprocal tariffs to countries that already have tariffs imposed against the United States.”

The tariffs have the world talking about the competency of the new president. Many other nations are reportedly upset in response. However, it should be noted that Trump is merely implementing reciprocal tariffs to countries that already have tariffs imposed against the United States. China for example has responded to Trump by imposing higher tariffs at 34% import fees, which are reflected in the prices of goods across the western world. Importing goods into America especially for small businesses has created a huge issue for entrepreneurs and those with small to medium sized businesses.

Technology is a big factor that is impacted by tariffs, as most of the components of smart devices are created and shipped from overseas to all parts of the world. Particularly America being a huge consumer of tech, they will have to bear the brunt of increased prices on everything from iPhones to Teslas.

These tariffs were decided by the Trump administration through consideration of the monetary levies that nations charge on U.S. imports. As well as trade barriers that make it difficult for American goods to enter foreign markets. It would appear that these tariffs are simply a method of creating some equilibrium for the cost that America has been paying on goods for decades, however it is the American people who are paying for this decision most heavily at this time.

The remainder of the year will bear the results of this new presidency and the drastic changes he is implementing, coupled with all that is happening, the hardships of the economy over the last few years and these higher rates for foreign goods. Americans will either thrive under these circumstances, or spiral further down the economic drain.

Perhaps to balance out the wages, Trump has announced that he wants to abolish income tax, which could potentially help American citizens to live a more sustainable lifestyle across all economic levels, however seeing as there has been income tax in action for the past 100 years there is no one of this generation who understands the true implications of a society where the citizens are not taxed for every dollar they make.

There is a great shift happening in the western world, which is trickling over to countries overseas. Nations are paying attention and implementing their own changes, in the face of America’s policy, political and economic shifts. The new president has set off a domino effect that everyone is responding to. In the wake of these changes the next four years will give rise to new values and a host of new approaches to life, in not just the West but many of the developing and developed countries.