Trump's tariffs ignite fears of a global economic crisis

The Sueddeutsche Zeitung reports that Donald Trump appears intent on generating maximum disruption through his policy choices and how he communicates them. He is depicted as operating with a blend of individualistic flair and authoritarian tendencies—introducing tariffs under exceptional legal provisions, allowing multiple scenarios to remain in play for days, and then announcing decisions at the last moment. Trump sees this unpredictability as a demonstration of strength, which he believes gives the United States an advantage in negotiating more favorable terms.

The Sueddeutsche Zeitung reports that Donald Trump deliberately seeks to generate as much disruption as possible through his policy decisions and how he communicates them. He is portrayed as a blend of a solo performer and an authoritarian leader, imposing tariffs using exceptional legal frameworks and keeping various strategies in play before ultimately making abrupt choices. Trump views this unpredictability as a demonstration of power, which he believes can help the United States secure more favorable negotiation outcomes.

The newspaper notes that part of Trump's tactic is to attack competitors and long-time partners of the USA, such as the European Union. However, according to the newspaper, this approach could lead to a severe crisis in the USA and worldwide.

The Sueddeutsche Zeitung points out that the 1930s tariffs—often cited positively by Trump—did not have the beneficial effects he suggests. Instead, they worsened the U.S. recession, restricted global trade, and triggered a worldwide economic crisis that ultimately preceded the outbreak of World War II.

The newspaper warns that with Trump's latest move, initiated on Wednesday, the world is now entering a highly risky economic experiment whose potential consequences could be catastrophic.

The business daily Handelsblatt notes that Trump defends his tariff policies using what it describes as a highly abstract form of reasoning. The paper criticizes his approach as a striking example of economic policy that contradicts basic economic logic. Contrary to Trump’s claims, Handelsblatt argues that the United States is not being exploited by its trading partners; the situation is quite the opposite.

As "Handelsblatt" writes, tariffs hinder economic development, increase inflation, and are a factor of uncertainty for companies on both sides of the tariff boundary. The situation is worsened because, under Trump, decisions are announced arbitrarily and can then be revoked. "And they destroy trust in the USA as a reliable partner. Short-term damages are enormous, and long-term ones—immeasurable," the newspaper comments. It adds that the leading power of the Western world has become a risk to the global economy.

According to the newspaper, the calculations on which the USA bases its tariffs are "completely stretched." The country's trade deficit does not result from the unfair intentions of trade partners, but from the fact that the United States consumes more than it produces.

"Handelsblatt" also considers what the EU's reaction to Trump's tariffs should be. "From an economic standpoint, remaining silent would be most sensible. Because, regardless of what retaliatory tariffs the EU imposes, they will be ineffective," it reports. However, from a political standpoint, Europe should, according to the newspaper, send a clear and "deterring" signal, in line with the principles of the World Trade Organisation.

Handelsblatt concludes that by April 2nd at the latest, even the most hopeful observers in the U.S. should come to understand that a strategy of risk reduction is now essential—not only in relation to Russia and China but also to the United States itself.

The RND editorial network—representing numerous regional and local newspapers across Germany—remarks that Trump persists in his fixation on tariffs. According to commentator Karl Doemens, the president’s objectives are inconsistent, his economic rationale is questionable, and the broader international consequences are highly damaging. Doemens argues that Europe should respond with strong and potentially painful countermeasures.

A commentator from RND describes the U.S. president's announcement of new tariffs as marking the collapse of the globalization era, arguing that Trump has opted for the most damaging course of action. Trump is portrayed as unwavering and dismissive of contrary advice in trade policy matters. He views tariffs as a catch-all solution—shielding domestic industries from international competition, generating immense revenue for tax relief, and serving as a potent tool in foreign policy negotiations. However, RND points out that these ambitions are logically incompatible—something the self-styled dealmaker appears unwilling to acknowledge.

According to the author, Europe cannot submit to such "strangulation" of its export economy, and Brussels must significantly increase the pressure through retaliatory measures. One thing is sure: Trump respects only strong opponents. It reports that he will relent (if at all) only when the political price is too high for him.