{"id":37491,"date":"2025-08-26T10:10:00","date_gmt":"2025-08-26T08:10:00","guid":{"rendered":"https:\/\/badania.uew.pl\/?p=37491"},"modified":"2026-01-26T13:21:56","modified_gmt":"2026-01-26T12:21:56","slug":"tariff-poker-in-times-of-uncertainty-dr-hab-artur-klimek-professor-at-wueb-assesses-donald-trumps-economic-policy","status":"publish","type":"post","link":"https:\/\/badania.uew.pl\/en\/tariff-poker-in-times-of-uncertainty-dr-hab-artur-klimek-professor-at-wueb-assesses-donald-trumps-economic-policy\/","title":{"rendered":"Tariff Poker in Times of Uncertainty. Dr hab. Artur Klimek, Professor at WUEB, Assesses Donald Trump\u2019s Economic Policy"},"content":{"rendered":"\n
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Is America \u201cgreat again\u201d? In economic terms, Donald Trump\u2019s chosen tool to achieve this ambition is tariffs. But who truly benefits, and who stands to lose? These questions were explored by Artur Klimek, PhD, Professor at the Wroclaw University of Economics and Business<\/a>, in an interview for Bankier.pl\u2019s program Economic Point of View<\/em>.<\/strong><\/strong><\/p>\n\n\n\n

\"ariff<\/figure>\n\n\n\n

On August 1, 2025, Donald Trump signed an executive order imposing tariffs on imports from more than 70 countries (including 15% tariffs on Polish goods). In a conversation with journalist Aleksander Ogrodnik, Professor Klimek examined the rationale and potential consequences of this sharp shift in trade policy, drawing on U.S. market data from the first two quarters of the year\u2014figures that do little to inspire optimism.<\/strong><\/p>\n\n\n\n

The WUEB expert pointed to uncertainty triggered by Trump\u2019s decisions as one of the main obstacles to the project of \u201cmaking America great again\u201d:<\/p>\n\n\n\n

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\u201cThe numbers we receive and see in reports are not particularly encouraging. Unemployment has begun to rise somewhat, but in the U.S., an even more important indicator is the employment rate, which is declining\u2014showing that the labor market is not in its best shape<\/strong>. Inflation has also started to rise\u2014slowly, but still\u2014mainly due to the gradual depletion of companies\u2019 inventories. At the same time, interest rates remain uncertain. The Federal Reserve refuses to commit to lowering them, and Trump seems intent on shifting responsibility to the Fed.\u201d<\/p>\n<\/blockquote>\n\n\n\n

Professor Klimek cited data from the automotive industry as a telling example for the wider manufacturing sector:<\/p>\n\n\n\n

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\u201cWe are now at a point where major U.S. companies are reporting their results\u2014and in the second quarter we can already see the impact of tariffs<\/strong>. General Motors estimates its annual profits will be lower by $4\u20135 billion, with $1 billion of losses attributable to tariffs in Q2 alone. Stellantis reported around $300 million in tariff-related losses. This shows that American corporations expected to grow stronger are, in fact, weakening\u2014especially in the industrial sector.\u201d<\/p>\n<\/blockquote>\n\n\n\n

Despite the prevailing uncertainty, some sectors are performing relatively well\u2014particularly in finance:<\/p>\n\n\n\n

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\u201cThe situation is different in services. Banks and consulting firms reported very strong results, benefiting from widespread uncertainty.<\/strong> So we cannot claim that the U.S. economy as a whole is weaker, but many of its components that were supposed to grow stronger are, in reality, becoming much more fragile.\u201d<\/p>\n<\/blockquote>\n\n\n\n

The WUEB expert also emphasized the broader effects of tariffs on product prices, effects seemingly overlooked by the Trump administration:<\/p>\n\n\n\n

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\u201cIn the entire debate on tariffs, we cannot assume a simple, linear outcome. <\/strong>The U.S. administration appears to have approached the issue this way\u2014for example: a product costs 100, a 20% tariff brings the price to 120, and both consumers and producers will absorb the difference without much pain. But in practice, tariffs disrupt entire production chains, making some processes unprofitable. Those 10 or 20 percent tariffs are not just an add-on to prices\u2014they fundamentally reshape, or even break apart, supply chains.\u201d<\/p>\n<\/blockquote>\n\n\n\n

The full interview is available on Bankier.pl:<\/strong> https:\/\/www.bankier.pl\/wiadomosc\/Celna-ruletka-USA-W-co-gra-Donald-Trump-8983793.html<\/strong><\/a>.<\/strong>\u00a0<\/p>\n\n\n\n

Author: Sebastian Rogalski<\/strong><\/p>\n<\/div>\n<\/div>\n\n\n\n

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Is America \u201cgreat again\u201d? In economic terms, Donald Trump\u2019s chosen […]<\/p>\n","protected":false},"author":80,"featured_media":37485,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"_uag_custom_page_level_css":"","site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center 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America \u201cgreat again\u201d? In economic terms, Donald Trump\u2019s chosen […]","publishpress_future_action":{"enabled":false,"date":"2026-06-04 07:10:56","action":"change-status","newStatus":"draft","terms":[],"taxonomy":"category","extraData":[]},"publishpress_future_workflow_manual_trigger":{"enabledWorkflows":[]},"_links":{"self":[{"href":"https:\/\/badania.uew.pl\/en\/wp-json\/wp\/v2\/posts\/37491","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/badania.uew.pl\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/badania.uew.pl\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/badania.uew.pl\/en\/wp-json\/wp\/v2\/users\/80"}],"replies":[{"embeddable":true,"href":"https:\/\/badania.uew.pl\/en\/wp-json\/wp\/v2\/comments?post=37491"}],"version-history":[{"count":1,"href":"https:\/\/badania.uew.pl\/en\/wp-json\/wp\/v2\/posts\/37491\/revisions"}],"predecessor-version":[{"id":37494,"href":"https:\/\/badania.uew.pl\/en\/wp-json\/wp\/v2\/posts\/37491\/revisions\/37494"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/badania.uew.pl\/en\/wp-json\/wp\/v2\/media\/37485"}],"wp:attachment":[{"href":"https:\/\/badania.uew.pl\/en\/wp-json\/wp\/v2\/media?parent=37491"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/badania.uew.pl\/en\/wp-json\/wp\/v2\/categories?post=37491"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/badania.uew.pl\/en\/wp-json\/wp\/v2\/tags?post=37491"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}