Stocks tumble after Trump’s tariffs roil global markets: Live Updates
President Donald Trump’s tariff plans are moving forward by levying taxes on imported goods that economists warn will lead to price increases for consumers that could push inflation higher and complicate the Federal Reserve’s efforts to stabilize the pace of price growth.
With Trump’s plans for a 10% tariff on all imports plus additional reciprocal tariffs on U.S. trading partners, as well as sector-specific tariffs such as the 25% tariff on imported vehicles and auto parts, either in force now or taking effect soon, price hikes related to tariffs could soon be reflected in the inflation data the Fed is monitoring.
Ryan Young, senior economist at the Competitive Enterprise Institute, told FOX Business that he expects it will be “about…
