Donald Trump imposed higher import taxes on more than 60 countries, resulting in tariffs of 10% or higher. The European Union, Japan, and South Korea face a 15% tariff, while Taiwan, Vietnam, and Bangladesh are taxed at 20%. Trump anticipates significant investment from these regions into the US economy. However, there are early signs of negative impacts, such as stalled hiring, rising inflation, and declining home values. Economic reports suggest a shift following the implementation of tariffs, raising concerns over productivity and employment.
"I think the growth is going to be unprecedented," Mr Trump said on Wednesday afternoon.
"We don't even know what the final number is" regarding tariff rates.
"A less productive economy requires fewer workers," Mr Silvia said in an analysis note.
Economic reports show that hiring began to stall, inflationary pressures crept upward and home values in key markets started to decline.
Collection
[
|
...
]