Trump's Tariff Policies Increase Prices, Impact Economy

President Trump's tariffs have led to increased costs for American businesses and consumers, particularly impacting those with lower incomes who are more sensitive to price hikes on lower-cost electronics and vehicles. Many of these tariffs, especially those targeting imports from China and Canada, have disrupted supply chains and created uncertainty for businesses reliant on high-volume, low-margin sales. The administration's approach, which includes universal tariffs and steep levies on specific sectors, has resulted in the highest average US import tariff rates in decades, with further increases threatened if trade negotiations falter. These measures have also strained international relations, notably with Canada, where tariffs on autos, steel, and aluminum have had significant economic effects. While some tariffs have temporary reprieves, the overall climate remains unpredictable, leading to market instability and potential long-term consequences for global trade and consumer access to affordable goods.