Consumers, companies brace for Trump tariff fallout
Americans are growing more pessimistic about the economy as they absorb the prospect for further increases in their cost of living.
Donald Trump’s tariff wars are sparking concern that he may further stoke inflation in the coming months. But the president may already be putting pressure on prices even though he’s barely fired a shot.
Trump’s only major move so far has been to layer another 10 percent tariff on top of all Chinese goods entering the U.S. But he’s also laid out a slew of other big potential targets: steel and aluminum, copper, autos and pharmaceuticals on top of all imports from Canada, Mexico and the European Union, and — potentially — tit-for-tat duties on every country in the world.
