Imagine grabbing your morning coffee and realizing your favorite canned drink cost more overnight – that’s the new normal for some US shoppers. On Monday, the US rolled out its toughest steel and aluminum tariffs yet, doubling levies to 50% and snaring 407 derivative products.
Since February’s initial tariffs on metals from Mexico, Canada, and the Chinese mainland, 333 companies around the globe have already shifted strategies, from alternative sourcing to price hikes. Goldman Sachs research shows US consumers picked up 22% of the tariff tab by June – and that share could swell to 67% by October.
For business and tech innovators, this tariff surge is both challenge and opportunity: rethink supply chains, accelerate material science breakthroughs, or explore markets beyond traditional metal hubs.
As prices tick up at the checkout, global citizens are left with a clear message: in an interconnected economy, trade policy moves from the halls of power straight to wallets worldwide.
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US consumers bear high costs as expanded tariffs take effect
cgtn.com
