"US households have experienced a $1,000 increase in costs for the same goods over the past year, with lower-income families being hit the hardest by these changes."
"The Supreme Court ruled that most of Trump's tariffs are illegal, emphasizing that the president does not have the authority to impose broad tariffs under the guise of a national emergency."
"Despite the Supreme Court's ruling being a significant legal setback, the trade war continued as President Trump quickly invoked a different statute to implement a temporary tariff."
"The average effective US tariff rate surged from 2.6 percent to over 13 percent, marking the highest level of tariffs seen in the US since World War II."
Over the past year, US households paid $1,000 more for goods, significantly impacting lower-income families. President Trump announced a 10 percent global tariff, leading to a severe stock market drop. The Supreme Court ruled most tariffs illegal, stating the president lacked authority for broad tariffs. Despite this, Trump invoked a different statute for a temporary tariff. The average effective US tariff rate rose from 2.6 percent to over 13 percent, the highest since World War II, reshaping the economy and trade dynamics.
Read at www.aljazeera.com
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