What effects would Trump's tariffs have on American consumers and businesses? Experts clarify
By : Sandhya
In addition to the increased 20% tax on Chinese imports, US President Donald Trump has imposed a 25% tariff on goods from Canada and Mexico. According to experts, this will have a significant negative impact on both consumers and businesses.
According to the report, businesses will be forced to raise the cost of a range of goods, from larger, more expensive things like vehicles and appliances to more affordable, daily purchases like food, electronics, and gas.
According to the newspaper, Best Buy CEO Corie Barry stated on Tuesday's earnings call that "international trade is critically important to our business and industry." "The supply chain for consumer electronics is extremely intricate, technological, and worldwide. Mexico and China continue to be our top two suppliers of goods, respectively.