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Confused about Trump’s tit-for-tat tariffs? Here’s a simple analogy

President Trump’s global tariffs - the most significant escalation America has imposed in a century — is having ripple effects across the global economy. Trump has paused his so-called “reciprocal tariffs” on the US’ trading partners until July. He has dramatically raised, and then slashed, tariffs on China and raised — and promptly delayed — punishingly high tariffs on the European Union. A lot has happened over the last few months, and trade wars can be complicated to understand. To make things easier, CNN Business Reporter Anna Cooban explains with a very simple analogy.

02:08 - Source: CNN
Latest from CNN Business 16 videos
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Confused about Trump’s tit-for-tat tariffs? Here’s a simple analogy
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<p>Matt Andre joins The Lead</p>
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<p>Megan LaMothe join The Lead</p>
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TOPSHOT - US President Donald Trump (R) shakes hands with European Commission President Ursula von der Leyen (L) after agreeing on a trade deal between the two economies following their meeting, in Turnberry south west Scotland on July 27, 2025, on the third day of his visit to the country, since his second tenure as President began. US President Donald Trump said on July 27, 2025 that he had reached a trade agreement with European Union chief Ursula von der Leyen. "We have reached a deal. It's a good deal for everybody," Trump told reporters after talks with von der Leyen at his golf resort in Turnberry, Scotland. The EU chief also hailed it as a "good deal". (Photo by Brendan SMIALOWSKI / AFP) (Photo by BRENDAN SMIALOWSKI/AFP via Getty Images)
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Analysis: What Trump hopes to signal with EU trade deal
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On GPS: Bill Gates on navigating the future of AI
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<p>Richard Brown</p>
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A potential Olympic bid and a new airline for Saudi Arabia - this week's business headlines from the Middle East
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<p>From thermostats to Meta’s AI glasses, ARM has been designing chips that have quietly influenced almost every aspect of our modern lives. Since their early work on the short-lived Apple Newton, they have grown into one of Europe’s largest semiconductor design companies and are proving that Europe is still a contender in the global AI race.</p>
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Meet the chip design company keeping Europe in the global AI race
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<p>Europe has fallen behind China and the US in the development of AI capacity, producing less than 1% of the world’s semiconductors needed for AI. The EU hopes to expand their semiconductor production and produce 20% of the world's semiconductors by 2030. CNN's Anna Stewart spoke to Jensen Huang, CEO of Nvidia about their plans to build 20 AI factories across the continent. However, the question remains of whether this is the start of Europe’s comeback, or a last-ditch fantasy.</p>
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Nvidia wants Europe to catch up in the AI race
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This coffee chain overtook Starbucks in China. Now it’s open in the US
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