What will be the impact of President Trump's reciprocal tariffs policy on consumers and the economy?

President Trump acknowledges that while tariffs may cause price fluctuations, he emphasizes that the primary benefit will be significant job creation. He asserts that "jobs will go up tremendously" and promises "great jobs, jobs for everybody" as the main outcome of his tariff strategy. The administration has ordered a comprehensive assessment of implementing reciprocal tariffs on major U.S. trading partners, with Commerce Secretary nominee Howard Lutnick indicating a country-by-country evaluation approach. A final report is expected by April 1st, though no firm timeline has been established for tariff implementation. Trump's position reflects his belief that short-term economic adjustments from tariffs will ultimately lead to long-term economic gains through increased domestic employment, despite potential consumer price impacts.