CNN 5 Things China hits back again, biggest tariff losers, egg prices investigated & more
Apr 9, 2025
China’s new tariffs on US imports spark a trade war, and economists weigh in on the biggest losers. Meanwhile, the investigation into rising egg prices by America’s largest egg producer raises eyebrows. Additionally, USAID has reversed its funding stance following alarming warnings. On the media front, a judge rules against banning the Associated Press from reporting on certain events. These topics highlight the complex interplay between trade policies and broader economic implications.
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Tariff Impact
- Economists warn that US consumers will be the biggest losers from Trump's tariffs.
- These tariffs are expected to increase the cost of groceries and other imported goods.
Tariff Losers
- Neil Shearing states there are no winners in a tariff war, as everyone suffers from increased consumption taxes.
- The tariffs will raise prices on various imported foods, impacting smaller businesses first.
US Manufacturing Costs
- While Trump intends tariffs to boost US manufacturing, it could significantly increase consumer prices.
- An analyst predicts a potential tripling of iPhone prices if production shifted to the US.