The article discusses the implications of tariffs introduced by President Trump, termed Liberation Day, which have triggered significant market reactions, including a massive drop in the S&P 500. Tariffs are depicted as a complex tool used not just for economic purposes but as a strategic move to boost American manufacturing. The fashion industry, particularly brands like Nike that rely on overseas production, could face increased costs, which may ultimately affect retail prices consumers pay. Economic experts weigh in on the potential long-term effects of these tariffs on American manufacturing and consumers' wallets.
Tariffs, which Trump once called the most beautiful word, have been wielded by every administration as both an economic and political tool, but...
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