U.S. President Donald Trump turned up the heat on global trade by raising tariffs on all steel and aluminum imports to 25 percent this Monday. 📈 These moves come on the heels of similar tariff hikes on Canada, Mexico, and China announced on February 1.
Economists warn that Trump's aggressive tariff tactics are likely to stoke inflation, making everyday goods more expensive for American consumers. 🛒💸 The increased tax burden could ripple through the economy, affecting everything from manufacturing costs to the prices on your favorite products.
Stay tuned as we keep you updated on how these tariffs might impact your wallet and the broader U.S. economy!
Reference(s):
Trump's tariff tactics to stoke inflation, increase tax burden
cgtn.com
