Member-only story
ECONOMIC STABALITY TEETERS
as people & businesses digest the Trump Tariffs
According to Financial Times (source) The US consumer faces possibility of higher prices for goods such as tomatoes, avocados and tequila following, etc. according to Donald Trump’s tariffs on imports from China, Mexico and Canada. These three countries account for 40% of US Trade.
IMPACT:
- Asian markets fell
- Concern develops over supply-chain disruption
- Likely higher prices for groceries, fuel, heating, shipping.
- The Dow shed nearly 180 points in early trading but has recovered some after Trump paused for 30 Days the tariffs on Mexico as he searches for a deal.
Oxford Economics: Oxford Economics wrote in a Feb. 3 research note. “The latest set of tariffs will lead to weaker GDP growth, higher unemployment, higher interest rates, and higher inflation this year in Canada, Mexico, and the U.S. than in our January baseline forecast.”
TRUMP ISN’T FINISHED:
Talking tough with respect to other traders as well, he has indicated that he is not finished. There will be more. “It will definitely happen with the European Union. I can tell you that because they’ve really taken advantage of us.”
