Trump just imposed tariffs on imports from over 60 countries
President Trump just slapped 10%-50% tariffs on imports from over 60 countries—including the EU, Japan, India, and more—saying it's about fixing trade deficits and national security.
But so far, the numbers aren't looking great: hiring has slowed, inflation is up, construction spending dropped by 2.9%, and the US trade deficit actually jumped by 38% in the first half of 2024.
Tariffs are causing tension with countries like India and Germany
These are the highest import taxes since the Great Depression era, which means everyday stuff just got a lot pricier.
The move is also causing tension with countries like India and Germany (where factories are already feeling it), plus economists warn this could mess with jobs, wages, and global supply chains.
Even with some tweaks to certain tariffs, big challenges for both shoppers and businesses remain.