Answering recent questions from reporters about the upcoming tariffs on goods from Canada, Mexico, China and, eventually, other countries, including the European Union, President Donald Trump, in particular, said: "Tariffs do not cause inflation. They cause success."
Well, maybe this time it will be different, but as a former university professor of economics, I want to sincerely doubt that. At least, all economic history shows quite the opposite - as a result of trade wars, the poor usually suffer. Simply because the prices of goods go up. For example, today we can already prepare for price hikes on these 12 things.
