Trump’s Tariffs: Impact On USA Population

US President Donald Trump announced new global tariffs, calling it a “declaration of economic independence.” A 10% baseline tariff will apply worldwide from April 5, while higher rates will target certain nations. India faces a 26% tariff, and China 34%. Trump justified these rates by claiming unfair treatment in trade. Additionally, a 25% tariff on imported cars starts on April 4, with further levies on auto parts set for May. The US aims to boost its economy through these measures, though higher prices for consumers are a concern.

Tariffs, or taxes on imported goods, can lead to price hikes. While importers pay these taxes, costs often pass to consumers. Tariffs can also force foreign businesses to lower prices, affecting their profits.

Key products likely to become expensive include cars, clothing, shoes, wine, coffee, avocados, and fuel. Experts predict price increases, particularly for luxury vehicles and imported food items.