The article discusses the impact of President Trump's tariffs on American consumers, particularly focusing on Generation Z, who often earn less due to their newness in the workforce. It highlights how tariffs can raise prices significantly on essential goods, making them disproportionately burdensome for poorer demographics. Economic predictions suggest even moderate tariffs might raise basic item prices by 1.63%. The piece warns that some products favored by Gen Z could disappear entirely due to the increased costs. Overall, it paints a grim picture of the economic challenges posed by these tariffs.
By dint of being new to the workforce, Gen Zers typically earn less than other age groups. And economic shocks, as a rule, disproportionately hurt poorer people.
A team of economists from the Federal Reserve Bank of Atlanta calculates that even moderate tariffs - 10% on China, 25% on Canada and Mexico - could raise the price of everyday essentials by 1.63%.
In the worst-case scenario, industry analysts... say the president's tariffs could wipe out some Gen Z products entirely. They'll just cease to exist.
For Americans who buy or sell goods, President Trump's tariffs will significantly increase the prices of imports, causing economic challenges for consumers especially Gen Z.
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