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The Guardian - US
The Guardian - US
World
Callum Jones in New York

As Trump’s tariff regime becomes clear, Americans may start to foot the bill

South Korean protesters tear a big banner showing a caricature of Donald Trump as a robber during a rally against Trump's tariff policy near the US embassy in Seoul on 27 July 2025.
South Korean protesters tear a big banner showing a caricature of Donald Trump as a robber during a rally against Trump's tariff policy near the US embassy in Seoul on 27 July 2025. Photograph: Jung Yeon-Je/AFP/Getty Images

Burying the hatchet with Brussels, Donald Trump – flanked by the leader of the European Commission – hailed a bold new era of transatlantic relations, an ambitious economic pact, and declared: “This was a very big day for free and fair trade.”

That was seven years ago. And then on Sunday, the US president – flanked by a different leader of the European Commission – hailed another new era of transatlantic relations, another economic pact and declared: “I think it’s the biggest deal ever made.”

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