Economic Impact of Tariffs

Recent news highlights the significant repercussions of President Trump's announcement regarding 10% tariffs on U.S. imports, which marks one of the highest levels of tariffs in over a century. This decision triggered a notable sell-off in global markets and caused the three major U.S. indexes to experience their worst days since 2020. In response, Canada implemented a 25% tariff on select American cars, while Mexico worked on measures to bolster domestic production in industries affected by the tariffs. This economic shift raises concerns over its potential to harm the U.S. economy and complicate international trade relations.