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Al Jazeera
Al Jazeera
Technology
Marium Ali, Hanna Duggal

What has been the impact of Trump’s tariffs so far?

Donald Trump United States China
US President Donald Trump's tariffs have brought in revenue from higher duties paid by importers but are also leading to an increase in prices now [File: Mark Schiefelbein/AP Photo]

United States President Donald Trump’s tariffs are set to come into effect on August 1. They mark a significant escalation in US trade policy, leading to higher prices for consumers and bigger financial hits for companies.

Trump had initially postponed “reciprocal tariffs”, which he had announced on April 2, giving countries time to reach trade deals with the US.

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