The latest wave of tariffs imposed by the Trump administration took effect this week, raising taxes on imports from more than 60 countries and sending prices higher for everyday American consumers. While the White House frames these measures as a bold move to protect U.S. industries and jobs, economists warn that the costs will be borne largely by households, fueling inflation and straining budgets.
According to AP News, the United States now levies tariffs ranging from 10% to 50% on key imports from major trading partners, including Canada (35%), Brazil (50%), South Korea (15%), India (25%), and the UK (10%). Overall, the average tariff rate stands at 18.6%, the highest since 1933, per Reuters.
