Beginning Thursday, President Donald Trump implemented higher import tariffs on goods from over 60 countries. Tariffs are set at 10% to 20% based on the country of origin, notably affecting the European Union, Japan, and South Korea. The administration anticipates that these tariffs will lead to significant foreign investment in the U.S., boosting the economy. However, there are emerging signs of economic strain, including stalled hiring and rising inflation, indicating potential negative impacts on the U.S. economy as a result of these tariff policies.
President Donald Trump is officially levying higher import taxes on goods from over 60 countries, with tariffs ranging from 10% to 20% on various imports.
The U.S. economy shows signs of damage since the introduction of tariffs in April, leading to stalled hiring and inflationary pressures.
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