U.S. Tariffs Are Self-Inflicting Damage, Warns deVere Group CEO

Global financial consultancy deVere Group's CEO, Nigel Green, warned that President Donald Trump's trade policy is leading the U.S. into a crisis. This warning followed Trump's announcement that he would impose a 200% tariff on all wine and alcoholic products if EU countries do not remove tariffs on whiskey. This followed Europe's threat of retaliation in response to the 25% tariffs on steel and aluminum imports imposed by Washington on Wednesday.

Trade imbalances have become a key focus for Trump, who has imposed aggressive tariffs on Mexico, China, and Canada during his second term. Green argues that this tariff-focused economic strategy has plunged the U.S. into a deep crisis, harming market stability, shaking investor confidence, and causing businesses to face unexpected costs. He added that the unpredictability of U.S. trade policy under Trump has prompted companies to prepare for a future where the U.S. is no longer seen as a reliable trade partner.