As Americans fire up their grills and gather for fireworks this Independence Day, a new economic flashpoint looms: a fresh wave of tariffs that could take effect in less than a month. With official notifications expected to go out as early as July 5, concerns are mounting over how the rising cost of imports may impact small businesses and everyday consumers.
The tariff strategy—announced by former President Donald Trump—is expected to impose levies ranging from 10% to 70% on goods from countries without existing bilateral trade deals. These measures could be implemented by Aug. 1, according to CBS News. The move marks the expiration of a 90-day pause following April's unilateral tariff threats.
