The next round of Trump’s tariffs could hurt even more. Here’s what to expect
CNN
“Liberation Day” came and went, with President Donald Trump’s sweeping new tariffs battering markets, unsettling the global order, and prompting businesses and households to reconsider their spending.
“Liberation Day” came and went, with President Donald Trump’s sweeping new tariffs battering markets, unsettling the global order, and prompting businesses and households to reconsider their spending. And it’s far from over. There’s the immediate aftermath: Trump’s actions, based on economically questionable math, have triggered retaliatory tariffs, stoked trade wars, and escalated recession odds. There are near-, medium-, and long-term risks: The dangerous mix of fear, unpredictability, lost investments, and sudden cost spikes could quickly spill into the economy, causing real and lasting pain for people. And there are likely more tariffs coming down the pike: A suite of crucial materials was exempt from Wednesday’s tariff actions, including copper, computer chips, lumber, pharmaceuticals and critical minerals. However, Trump administration officials have indicated these products could be subject to tariffs at a later date. It also remains to be seen whether Canada and Mexico, two of the biggest targets of Trump’s on-again, off-again tariffs, will continue to be largely spared.
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