The United States has once again weaponized its tariff policy. However, experts warn that these tariffs are likely to backfire.
As trade costs rise, businesses face higher expenses, leading to increased prices for consumers. This ripple effect means American shoppers will ultimately bear the brunt of the tariffs.
Higher goods prices contribute to escalating inflation, a factor that can undermine overall economic growth. Economists argue that the boomerang effect of tariffs is no joke, posing significant challenges to the nation's economic stability.
Reference(s):
cgtn.com
