President Trump has stated his intention to impose tariffs between 10-20% on all imported goods to stimulate domestic manufacturing and reduce trade deficits.
Critics claim that uniform tariffs on all imports will burden US consumers with higher prices, predominantly impacting lower-income earners who are least able to absorb the costs.
Economists caution that a new wave of tariffs targeting China may primarily benefit other low-cost manufacturers rather than effectively boosting US production capabilities.
In anticipation of new tariffs, US importers increased shipments from China significantly, with a reported 14.5% rise in container handling at US seaports in December 2024.
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