💨 Abstract

Economists anticipate that U.S. consumers will soon face price impacts due to President Donald Trump's tariffs. New tariffs, set to take effect in three weeks, could accelerate this effect. Currently, most imported goods face a 10% tariff, with higher rates on steel, aluminum, and automobiles. Trump has threatened additional tariffs on various goods, potentially leading to the highest average tariff rates in over a century.

Courtesy: WTOP Staff