Trump’s Tariff World Order.
“President Trump’s punishing new tariffs on more than 90 countries snapped into place after the stroke of midnight Thursday, the latest escalation in a global trade war that has started to exact a toll on the U.S. economy.
Few of America’s major trading partners were spared under Mr. Trump’s updated slate of duties, which together have sent the average effective U.S. tariff rate to its highest level in nearly a century. In the hours before the import taxes took effect, the president signaled there would be more to come, as he doubled down on a strategy that has driven up prices, constrained growth and spooked consumers and businesses around the world.”
Tariffs are the new buzzword in everything from international relations to grocery prices at Walmart and Kroger and Amazon. The immense surcharges that are placed on a vast array of products is the most in 80 years and the economic consequences have yet to be realized. Many companies stockpiled products before the tariffs went into effect but those stashes are running low and consumers will be seeing the price increases this fall as they start Holiday shopping.
