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Trump's previous tariffs terrified the world economy. He's betting this time is different

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President Donald Trump attends a meeting with Israel's Prime Minister Benjamin Netanyahu in the Blue Room of the White House, Monday, July 7, 2025, in Washington. (AP Photo/Alex Brandon)
Cranes and shipping containers are seen at a port in Pyeongtaek, South Korea, Tuesday, July 8, 2025. (AP Photo/Ahn Young-joon)

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President Donald Trump attends a meeting with Israel's Prime Minister Benjamin Netanyahu in the Blue Room of the White House, Monday, July 7, 2025, in Washington. (AP Photo/Alex Brandon)