Reported 9 days ago
Donald Trump's proposed tariffs of 10%-20% on all imports and 60% on Chinese goods could significantly increase consumer prices, with estimates suggesting the average American household might pay an additional $2,600 to $7,600 annually. This could particularly burden low-income families, as they spend a larger portion of their income on apparel and toys. Essential items such as jeans and home appliances could see prices rise substantially, affecting U.S. spending power by up to $78 billion. Economic experts warn that the ripple effects of these tariffs could lead to broader inflationary pressures.
Source: YAHOO