Former US President Donald Trump has reignited his push for aggressive tariffs on foreign imports under a ‘Buy American’ policy, but economists warn this could result in higher prices for consumers.
The proposed measures, aimed at boosting domestic manufacturing, would impose steep taxes on goods produced outside the US, forcing companies to either absorb costs or pass them on to shoppers.
How Trump’s Tariffs Could Affect Everyday Prices
Analysts suggest that tariffs on products like electronics, vehicles, and household goods could lead to significant price hikes. Retailers may struggle to maintain competitive pricing, particularly for budget-conscious buyers.
Economic Experts Sound the Alarm
‘While the intention is to strengthen American industry, the immediate effect could be inflationary,’ said one trade economist. ‘Consumers will likely bear the brunt of these policies.’
Critics argue that similar tariffs under Trump’s first term led to trade wars and higher costs for businesses and families alike.
Potential Long-Term Consequences
Beyond short-term price increases, experts caution that retaliatory tariffs from other nations could further strain the US economy, disrupting global supply chains and reducing export opportunities for American farmers and manufacturers.
The debate over protectionism versus free trade continues to divide policymakers, with some advocating for alternative strategies to support US industry without penalising consumers.
