Will Tariffs Work? Will Trump Rule for Life

April 2, 2025

Tariffs will Make Us Rich Again and Again

This is how Liberation Day will most likely play out to the benefit of everyone paying attention to Creatix.

1. Beginning April 3, 2025, there will be a “gold rush” as Americans rush to all stores to buy everything off the shelfs before the new tariffs kick in. This will accelerate the economy.

2. The President will then start making concessions here and there to keep the economy at a fast pace.

3. In the meantime, businesses will expand production capacity in the United States contributing to a huge economic boom.

Liberation Day = Money!

On April 2, 2025, President Trump announced a new tariff schedule to begin curtailing America’s addiction to foreign goods.

There is a universal 10% tariff on all foreign goods. In addition, there are some new reciprocal tariffs matching what other countries impose on U.S. goods. Below is a list of countries, showing existing tariffs, new tariffs, and total tariffs.

Country / Existing Tariff (%) / New Tariff (%) Total Tariff (%) Notes

Bangladesh 0 / 37 / 37 Textile revival in the United States

Canada 25 / 0 / 25 NAFTA-like boom as these are amongst the lowest tariffs.

Cambodia 0 / 49 / 49 Textile industry revival both in rural and urban America.

China 20 /34 / 54 Make China Great Again. China will find ways to make products even cheaper and better. Walmart, Amazon, Target … will make more from hooked consumers.

European Union 19 / 20 / 39 Make Europe Chic Again. The rich will flock to buy European goods to show off their wealth. Everything European will be perceived as chic.

India 0 / 26 / 26 Jewelers will make more money from the rich. Revival of U.S. manufacturing of electronics. Boom for Southern states and Puerto Rico.

Indonesia 0 / 32 / 32 Reflects efforts to balance trade relations.

Japan 0 / 24 / 24 Win-win as Japanese companies invest in domestic production in the U.S.

Mexico 25 / 0 / 25 NAFTA-like boom as these are amongst the lowest tariffs.

Pakistan 0 29 29 Textile boom in the United States

South Africa 0 30 30 Boom for metal commodity traders

South Korea 0 25 25 Economic boom as South Korean manufacturers open factories in the U.S.

Sri Lanka 0 / 44 / 44 No significan impact.

Switzerland 0 / 31/ 31 Medical and pharmaceutical boom in the United States. Also chic Euro boost for the rich.

Taiwan 32 / 32 / 64 Semiconductor industry boom in California and Texas.

Thailand 0 / 36 / 36 Electronic industry revival in the U.S as some factories return.

United Kingdom 0 / 10 / 10 Free trade agreement like boom as these are the lowest tariffs.

Vietnam 44 / 46 / 90 Textile industry revival for the United States. Puerto Rico can become the new Vietnam

Notes:

• A universal baseline tariff of 10% applies to all imported goods from countries not specified with higher rates.
• For countries with existing tariffs, the new tariffs are additive, resulting in the total tariff percentage listed.
• Canada and Mexico are exempt from new tariffs but remain subject to existing tariffs of 25% on certain goods.

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Who are the biggest trade partners of the U.S.?

In 2024, when considering the European Union (EU) as a single entity, the United States’ top trading partners based on total trade volume (sum of exports and imports) were:

• European Union: Total trade amounted to approximately $976 billion, with U.S. exports to the EU at $370.2 billion and imports from the EU at $605.8 billion, resulting in a trade deficit of $235.6 billion.
• Mexico: Total trade was approximately $839.9 billion, with U.S. exports to Mexico at $334.0 billion and imports at $505.9 billion, leading to a trade deficit of $171.9 billion.
• Canada: Total trade reached around $762.1 billion, comprising $349.4 billion in U.S. exports and $412.7 billion in imports, resulting in a trade deficit of $63.3 billion.
• China: Total trade was about $582.4 billion, with U.S. exports to China at $143.5 billion and imports at $438.9 billion, leading to a trade deficit of $295.4 billion.

These figures underscore the significant economic relationships the United States maintains with these partners, reflecting substantial trade volumes and interdependence.

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What does the United States import from the European Union?

In 2024, the United States imported approximately $605.8 billion worth of goods from the European Union (EU), reflecting a 5.1% increase from the previous year. The primary categories of these imports were:

1. Machinery and Vehicles:

• This category constituted 31% of total imports, encompassing products such as automobiles, industrial machinery, and related equipment.

2. Chemicals:

• Accounting for 25% of imports, this segment included pharmaceuticals, organic chemicals, and other chemical products.

3. Other Manufactured Goods:

• Representing 14% of imports, this category covered items like textiles, clothing, and other finished products.

4. Energy Products:

• Comprising 16.1% of imports, key items included petroleum and petroleum products.

5. Medicinal and Pharmaceutical Products:

• These products made up 13.8% of imports, highlighting the significant role of the EU in supplying medical goods to the U.S.

These figures underscore the diverse nature of goods imported by the U.S. from the EU, with machinery, vehicles, and chemical products leading the trade.

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What does the United States import from Mexico?

In 2024, the United States imported goods from Mexico valued at approximately $505.9 billion, marking a 6.4% increase from the previous year. This trade resulted in a U.S. goods trade deficit with Mexico of $171.8 billion, a 12.7% increase over 2023.

Main Imports from Mexico to the United States:

• Vehicles and Automotive Parts: This category was the largest, with imports totaling approximately $137.3 billion.
• Electrical Machinery and Equipment: Imports in this sector amounted to around $105.8 billion. Electronic Equipment: This includes items such as computers and related devices, with imports totaling about $87.6 billion.
• Medical and Surgical Instruments: Imports of optical, medical, and surgical apparatus were valued at approximately $22.9 billion.
• Mineral Fuels and Oils: This category, including crude oil and refined petroleum products, accounted for about $16.9 billion in imports.
• Beverages: Imports of beverages, including alcoholic drinks, totaled approximately $13.1 billion.

These figures underscore the significant trade relationship between the United States and Mexico, with substantial imports across various sectors contributing to the overall trade dynamics.

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What does the United States import from China?

In 2024, the United States imported approximately $438.9 billion worth of goods from China, marking a 2.8% increase from the previous year.

The primary categories of these imports included:

• Electrical Machinery and Equipment: This category encompasses products such as smartphones, laptops, and other consumer electronics, reflecting the high demand for Chinese-manufactured technology products in the U.S.
• Machinery (including computers): This includes various types of machinery and computer equipment essential for both consumer and industrial use.
• Furniture and Bedding: A significant portion of household furniture and related items are imported from China, catering to the U.S. home furnishing market.
• Toys and Sports Equipment: China is a major supplier of toys, games, and sporting goods, meeting the needs of U.S. consumers.
• Footwear: A substantial share of footwear sold in the U.S. is manufactured in China, including various styles and brands.

These categories highlight the diverse range of Chinese goods that fulfill both consumer and industrial demands in the United States.

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What does the United States import from Canada?

In 2024, the United States imported approximately $412.7 billion worth of goods from Canada. The primary categories of these imports included:

• Mineral Fuels and Oils: Valued at approximately $131.91 billion, this category primarily consists of crude petroleum and natural gas.
• Vehicles (excluding railway and tramway): Totaling around $56.35 billion, this includes passenger cars, trucks, and automotive parts.
• Machinery (including nuclear reactors and boilers): Imports in this category were about $31.86 billion, encompassing various industrial and manufacturing equipment.
• Plastics and Plastic Articles: Amounting to approximately $13.67 billion, covering a range of plastic materials and products.
• Precious Metals and Stones: Valued at about $11.51 billion, including items like gold, diamonds, and other gemstones.
• Wood and Wood Products: Totaling around $11.45 billion, consisting of lumber, wood panels, and related products.
• Aluminum and Aluminum Articles: Imports were approximately $11.22 billion, including raw aluminum and aluminum-based products.
• Electrical Machinery and Equipment: Valued at about $9.85 billion, encompassing items like electrical circuits, transformers, and related apparatus.

These figures underscore the significant and multifaceted trade relationship between the United States and Canada, with energy products and vehicles being the leading import sectors.

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What does the United States import from India?

In 2024, the United States imported approximately $91.23 billion worth of goods from India. The primary categories of these imports included:

• Pearls, Precious Stones, and Metals: Valued at $12.36 billion, this category encompasses items like diamonds and jewelry.
• Electrical and Electronic Equipment: Imports in this sector totaled $12.08 billion, covering products such as telecommunications equipment and electronic components.
• Pharmaceutical Products: The U.S. imported $10.97 billion worth of pharmaceuticals from India, reflecting India’s significant role in the global pharmaceutical industry.
• Machinery (Including Nuclear Reactors and Boilers): This category accounted for $6.67 billion in imports, indicating robust trade in industrial machinery.
• Mineral Fuels and Oils: Imports of these products were valued at $5.14 billion, highlighting energy-related trade between the two countries.
• Organic Chemicals: The U.S. imported $3.86 billion worth of organic chemicals from India, essential for various industries including pharmaceuticals and agriculture.
• Textile Articles and Apparel: This sector contributed $2.92 billion to the import total, underscoring India’s prominence in the global textile market.
• Iron and Steel Articles: Imports in this category amounted to $2.88 billion, reflecting trade in construction and manufacturing materials.
• Vehicles (Other than Railway or Tramway): The U.S. imported $2.70 billion worth of vehicles from India, indicating collaboration in the automotive sector.

These figures illustrate the diverse nature of goods imported by the United States from India, spanning industries such as jewelry, electronics, pharmaceuticals, machinery, energy, chemicals, textiles, and automotive.

What does the United States import from Cambodia?

In 2023, the United States imported approximately $12.13 billion worth of goods from Cambodia. The primary categories of these imports were:

• Electrical and Electronic Equipment: Totaling around $2.83 billion, this category includes items such as semiconductor devices.
• Knit or Crocheted Apparel: Valued at approximately $2.42 billion, this segment encompasses various clothing items.
• Leather Articles and Travel Goods: Imports in this category amounted to about $1.79 billion, covering products like trunks, cases, and other leather goods.
• Furniture and Prefabricated Buildings: This sector contributed roughly $1.16 billion to the import total, including items like furniture and lighting signs.
• Non-Knit Apparel: Accounting for around $1.06 billion, this includes woven garments and related products.
• Footwear: Imports of footwear were valued at approximately $711.6 million.
• Plastics and Rubber Products: These categories saw imports of $401.06 million and $361.29 million, respectively.

These figures highlight the diverse range of products that the U.S. sources from Cambodia, with significant emphasis on textiles, electronics, and consumer goods.

What does the United States import from Thailand?

In 2024, the United States imported a diverse range of goods from Thailand, with the total value of these imports reaching approximately $63.3 billion, marking a 12.5% increase from the previous year. citeturn0search1 The primary categories of these imports include:

• Electrical and Electronic Equipment: This category was the largest, with imports totaling around $23.06 billion. Key items include:
• Telephones: $583 million
• Computers: $463 million
• Semiconductor devices: $461 million
• Electrical apparatus for line telephony or telegraphy: $6.07 billion
• Diodes, transistors, and similar semiconductor devices: $4.47 billion
• Rubber Products: Imports of rubber tires amounted to $314 million.
• Automotive Parts: Thailand serves as a significant hub for automobile production in Southeast Asia, exporting various motor vehicle parts to support this industry.
• Food Products: Processed foods, including prepared or preserved seafood, are among the notable imports from Thailand.

These figures underscore the robust trade relationship between the United States and Thailand, with electrical and electronic equipment leading the import sectors.

What does the United States import from Indonesia?

In 2024, the United States imported a diverse array of goods from Indonesia, totaling approximately $28.1 billion, a 4.8% increase from the previous year. The primary imports included:

• Palm Oil: Valued at $142 million in just one month in January 2025, palm oil was a significant import, reflecting Indonesia’s status as a leading global producer.
• Footwear: Leather footwear imports amounted to $108 million in January 2025, highlighting Indonesia’s robust footwear manufacturing sector. citeturn0search0
• Telecommunications Equipment: Telephones and related devices were imported at a value of $78 million in January 2025, indicating the importance of electronic goods in the trade relationship.
• Rubber Products: Rubber tires constituted $64.7 million of imports in January 2025, underscoring Indonesia’s role as a major rubber producer.

These figures illustrate the multifaceted trade dynamics between the United States and Indonesia, encompassing agricultural commodities, manufactured goods, and industrial materials.

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Get Ready for Trump Staying in the White House for Life

Barring an alien medical breakthrough for immortality, the odds that Donald Trump will day are 99.9999999999999%. We leave a tiny fraction of doubt only because science may one day crack the code of human immortality. But it’s almost certain that scifi immortality won’t arrive in time for Trump. The 78-year old leader will die sooner or later.

What’s far less certain, however, is whether Trump will ever leave the presidency before he dies. And even more intriguing is the question no one in business can afford to ignore: What happens if Trump manages to stay in power for life?

This scenario, once relegated to the realm of speculative fiction, now warrants serious contemplation. Trump has already laid the groundwork for a populist, anti-institutional movement that openly challenges democratic norms. If he finds a way — whether through democratic loopholes, legal reinterpretation, constitutional sabotage, cheating, or outright authoritarianism — to stay in power indefinitely, America’s political system could undergo a seismic transformation.

But here’s the most important takeaway for business leaders: The end of democracy does not mean the end of capitalism.

Authoritarianism ≠ Anti-Business

Many non-democratic nations operate with highly active capitalist systems. Some even thrive economically — at least for a time — despite the absence of free elections or civil liberties. While these environments come with different rules, they don’t exclude the existence of enterprise.

If Trump were to pursue a presidency-for-life, the U.S. would not be alone in merging authoritarian politics with market economies. Consider these examples:

Countries With Authoritarian Rule and Functioning Private Sectors

China One-party authoritarian stateWorld’s 2nd-largest economy, booming private sector in tech, real estate, and manufacturing.

Russia Electoral authoritarianism under PutinOligarch-heavy capitalism, resource-dependent economy.

Vietnam Communist one-party stateRapid growth driven by manufacturing, private investment encouraged.

United Arab Emirates Monarchy / AuthoritarianOil-funded economy with active sectors in real estate, finance, and tourism.

Saudi Arabia Absolute monarchyMajor economic reforms (Vision 2030) embracing private investment.

SingaporeHybrid democracy with strong authoritarian traitsThriving global hub for finance, tech, and logistics.

Turkey Electoral authoritarianism under ErdoğanDiverse economy with real estate, construction, and tourism sectors.

Egypt Military-backed authoritarian ruleTourism, manufacturing, and agriculture sectors operate under government oversight.

In these nations, entrepreneurs still open companies. Corporations still chase profits. Investors still speculate. The rules may be different, sometimes riskier, but capitalism doesn’t disappear — it adapts.

What Businesses Should Do If Democracy Fades

Stay Calm and Carry On. If Trump pursues — and secures — some form of lifelong presidency, here’s what business leaders should think about:

1. Political Agility

Don’t align blindly with one ideology. Be pragmatic. Understand power centers, and avoid alienating regulators or public sentiment — whichever direction it shifts.

2. Scenario Planning

Model not just for economic downturns or supply chain disruptions — but also for political regime change. Assess how an authoritarian shift could affect your industry, workforce, or access to capital.

3. Regulatory Recalibration

In authoritarian systems, regulations often become arbitrary, politicized, or personalized. Prepare your legal and compliance teams to monitor evolving policy and enforcement trends closely.

4. Media & Messaging Discipline

Public messaging becomes riskier in a post-democratic state. What you say online, in ads, or in internal communications could become subject to scrutiny from a government with less tolerance for dissent.

5. Redefining Corporate Citizenship

In liberal democracies, CSR often aligns with progressive values. Under authoritarian regimes, the definition of “good citizenship” may shift toward loyalty, stability, and national alignment.

Final Thoughts: Be Ready for the Unthinkable

Whether or not Trump becomes “president for life” is still in the realm of political speculation. But in the age of coups, constitutional bending, and rising global autocracy, it’s no longer absurd to ask the question. And in business, the worst scenario is not authoritarianism — it’s being unprepared for it.

Freedom is good for business — but so is foresight.
In this uncertain era, the best way to defend your company’s future might not be to fight the politics, but to adapt to the power — whatever form it takes.

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