Student Panel Discussion on Trump-Era Tariff Policies: Impact of Reciprocal Tariff of USA on International Trade

In an era of shifting global dynamics and economic nationalism, tariff policies have re-emerged as powerful tools in shaping international trade relations. Recognizing the significance of such strategies, the School of Business Studies at Jigyasa University, Uttarakhand, Dehradun, in association with the Mudra Club, hosted a Student Panel Discussion on the Tariff Policy Applied by Trump—a deep dive into one of the most debated trade policy approaches in recent history.

The discussion was designed not only to increase students’ awareness of global fiscal strategies but also to foster analytical thinking about their broader impact on economies, businesses, and society. This engaging session brought together budding economists and policy enthusiasts, offering a holistic analysis of the Trump administration's tariff policies and their global ripple effects.

 

Understanding Tariff Policy Under Trump: A New Wave of Protectionism

Tariffs, essentially taxes imposed on imported goods, became a cornerstone of Donald Trump's economic strategy during his presidency (2017–2021). Emphasizing "America First," his administration aimed to reduce trade deficits, encourage domestic manufacturing, and challenge countries like China over what were seen as unfair trade practices.

This session explored how these tariff measures redefined U.S. trade relations and prompted economic countermeasures worldwide.

 

Key Objectives of the Panel Discussion

1. Promote Economic Awareness: Help students understand how tariff policies shape international trade and affect domestic economies.

2. Encourage Policy Analysis: Provide a platform to examine both short-term and long-term consequences of protectionist policies.

3. Foster Debate on Trade Justice: Discuss ethical, political, and economic dimensions of tariffs in a globalized world.

4. Build Strategic Thinking: Prepare students for roles in international business, policymaking, and trade negotiation.

 

Event Overview: Bridging Trade Policy with Real-World Impact

With 34 attendees—13 male and 21 female participants—the event was an intellectual confluence of future economists and business leaders.

Panelists debated the rationale and outcomes of Trump's tariff decisions, especially the U.S.-China trade war, steel and aluminum tariffs, and tariffs on EU goods. They also examined global retaliation, supply chain disruptions, and inflationary consequences in the U.S.

 

Key Discussion Themes

1. The U.S.-China Trade War: Clash of Economic Titans

A major focus was the tariff war with China, where the Trump administration imposed tariffs on over $350 billion worth of Chinese goods. China responded with retaliatory tariffs on American exports, including soybeans and automobiles.

Panel Insights : -

Tariffs disrupted global supply chains, increasing production costs.

American farmers and small manufacturers faced significant losses.

The policy sparked discussions on intellectual property rights and tech dominance.

 

2. Domestic Manufacturing and Job Creation: Success or Shortfall?

One of Trump’s major arguments for tariffs was the revival of U.S. manufacturing.

Panel Insights : -

Some domestic industries experienced short-term gains.

However, job creation was limited due to automation and increased production costs.

Tariffs on imported raw materials hurt U.S. producers reliant on global inputs.

 

3. Tariffs on Allies: EU, Canada, and Mexico

The U.S. imposed steel and aluminum tariffs even on traditional allies, citing national security concerns.

Panel Insights : -

This strained diplomatic relations and invited retaliatory tariffs.

Multilateralism in trade was challenged, affecting organizations like the WTO.

Trade uncertainty deterred investment and business expansion.

 

4. Inflation and Consumer Burden

Tariffs often translated into higher prices for consumers, especially on electronics, clothing, and household goods.

Panel Insights: -

Inflationary pressure disproportionately affected low-income households.

Businesses passed tariff costs down to end-users, reducing purchasing power.

The effectiveness of tariffs in changing global trade behavior was questioned.

 

Societal Impact Analysis: Who Was Affected?

The student panel took a closer look at how Trump-era tariffs impacted key societal segments in both the U.S. and partner countries:

A. The Working Class

While some jobs were saved or created, many were lost in export-driven sectors due to retaliatory tariffs. Cost-of-living increases made things harder for wage earners.

B. Small Businesses

Small import-dependent businesses struggled with rising costs and reduced competitiveness, especially those without bargaining power in global supply chains.

C. Farmers

Agricultural exports to China and other nations plummeted due to retaliation. While federal aid tried to compensate, uncertainty hurt rural economies.

D. Consumers

Tariffs functioned like an indirect tax, leading to price hikes. Consumers in the U.S. paid billions more annually due to the imposed duties.

 

Lessons for Future Policymakers

One of the standout takeaways from the panel was the emphasis on balanced trade policies—the need to safeguard national interests while maintaining global cooperation.

Recommendations from Panelists:

Combine tariffs with domestic reforms to enhance competitiveness.

 

Conclusion: The Future of Tariff Strategy in a Global Economy

The Student Panel Discussion on the Tariff Policy Applied by Trump was more than an academic event—it was a dynamic platform where students explored the real-world implications of fiscal strategies. As trade continues to be a vital aspect of global cooperation, understanding the complexity of tariff policies is crucial for future leaders.

By engaging with the Trump-era trade approach, students gained insights into the delicate balance between national interests and global economic stability. Events like these nurture not just economic literacy, but also critical thinking, diplomacy, and strategic leadership—skills that are vital for shaping a more inclusive and cooperative world.

 

Faculty Advisors:

Dr. Vivek Devvrat Singh – Associate Dean, School of Business Studies

Dr. C.D. Bhatt – Faculty Mentor