Economist Professor Katherine Schmeiser Lande of Mount Holyoke College warns that Trump's new tariffs could have far-reaching effects on the U.S. economy. While tariffs are often seen as a tool for boosting revenue, Lande cautions that these measures may come at the expense of both consumers and producers.
According to Lande, "In terms of the idea that this is just going to raise a lot of money, it's not clear how that happens without it being at the cost of the U.S. consumer and some producers as well. Prices are going to go up for everybody. There will be job losses, probably." Her comments highlight the possibility that increased tariffs could drive up prices across the board and lead to job losses in key sectors of the economy.
This development is a reminder for globally connected readers—from business enthusiasts to digital nomads—that economic policies can have complex and unforeseen impacts on both local markets and international trade. As discussions around trade policy continue, careful analysis and dialogue will be essential to balance revenue generation with sustainable growth and consumer welfare.
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Economist warns of tariff impact on U.S. consumers and farmers
cgtn.com
