Trump's ambitious tariff plans could initiate on his first day in office, raising prices on imported goods and impacting consumers almost immediately.
Experts suggest Trump might invoke the International Emergency Economic Powers Act, allowing him rapid implementation of tariffs under the guise of a national emergency.
While the specific scale of the tariffs has yet to be detailed, Trump’s proposals suggest imposing a 60% tariff on China and 25% on Mexico and Canada.
Inu Manak emphasized that the economic repercussions for Americans could be noticeable 'fairly soon' after Trump initiates his tariff strategies.
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