US EditionHere’s what could soon cost you a lot more because of Trump’s massive tariffs
- President Trump announced new tariffs on Wednesday, impacting numerous countries and various imported goods.
- The tariffs aim to address trade deficits and rebuild American manufacturing, but economists warned of higher prices.
- The tariffs include a baseline 10% tariff on all imports and higher rates for roughly 60 'worst offender' countries.
- Former IMF chief economist Ken Rogoff said, "He just dropped a nuclear bomb on the global trading system."
- These tariffs may lead to increased consumer prices on goods, potentially triggering retaliatory measures and global trade wars.
45 Articles
45 Articles
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JingletreeWe found out how much Trump's tariffs are expected to cost you this year
Economists and supply chain experts told Business Insider the average consumer will spend about $4,000 more this year on staples from food to apparel due to cost increases caused by Donald Trump's tariffs.Justin Sullivan/Getty ImagesDonald Trump has enacted sweeping tariffs on items imported from the country's global trade partners.The tariffs will cause price increases on goods from pantry staples to apparel, experts told BI.On average, consume…
How President Trump's tariffs could impact everyday products
President Donald Trump's newly imposed tariffs on imports, including automobiles, textiles, technology and housing materials, are expected to drive up prices across multiple industries, impacting American consumers and businesses.
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