INDIANAPOLIS (WISH) — President Donald Trump has recently announced several trade agreements, including a significant deal with the European Union, as new tariffs on countries without deals are set to go into effect this Thursday.

The recent trade agreement with the European Union aims to bring stability and certainty to businesses in the United States, according to former Indianapolis Mayor Greg Ballard.

However, the former Republican mayor said, concerns remain about the broader impact of tariffs on the economy, particularly in some states including Indiana.

“It’s good as much as we’re getting more stable and stability brings certainty for businesses,” Ballard said, regarding the EU deal. “But you have these anomalies that they’re like, why are we charging Switzerland 39% tariff, right?”

Ballard expressed concerns about the lack of a comprehensive plan for the tariffs, suggesting that the current approach might not adequately address the complexities of global trade. “I think as they move along, I think they’re trying to get a framework for this, but I’m not sure there is at this point in time.”

The impact of tariffs on the economy is a significant concern, with Ballard highlighting potential issues such as increased costs and hiring slowdowns. “It’s essentially a tax and everything is going to cost more than it already is right now.

Ballard emphasized the uncertainty faced by businesses reliant on international supply chains.

Ballard also discussed the geopolitical implications of the tariffs, particularly in relation to China and India. He noted the importance of India’s role in the future global landscape, expressing concern over the potential consequences of punishing India for its oil purchases from Russia.

Plus, the broader economic impact of the tariffs includes inflation and hiring challenges, with Ballard noting that these issues might be subtle but are felt by consumers and small businesses.

“People who are out there buying groceries right now do not think it’s so subtle,” Ballard said.

This story was created from a live interview aired on WISH-TV. This story was formatted for WISHTV.com using AI-assisted tools. Our editorial team reviews and edits all content published to ensure it meets our journalistic standards for accuracy and fairness.

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