President Trump is set to impose new tariffs on Mexico, Canada, and China, citing significant subsidies and trade deficits as reasons. The tariffs include 10% on China and 25% on the other two countries. Many states have these nations as their largest trade partners. Experts suggest these tariffs could result in price increases for American consumers and provoke retaliation from those countries, impacting U.S. exports significantly. The reaction of businesses concerning these costs remains uncertain, as they weigh absorbing expenses versus passing costs onto consumers.
We'll see businesses deciding whether they're going to absorb those extra costs or they're going to pass them through to consumers. Given that consumer spending has been fairly buoyant...
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