#TrumpTariffs
When Will Trump’s Tariffs Affect the Economy?
Right now, the U.S. economy hasn’t felt the full impact of President Trump’s new tariffs, but experts say that could change soon.
What’s Going On?
Economists believe prices will start going up this summer because of the tariffs.
Job losses might follow later in the year as the economy slows down.
Other areas like consumer spending and economic growth (GDP) may also get hit.
What’s Happened So Far?
So far, things still look okay:
The unemployment rate stayed low at 4.2% in April.
Inflation (how fast prices rise) has been milder than expected.
But economists warn that this won’t last.
What’s Next?
A research group, Pantheon Macroeconomics, says nearly half of the price impact will be felt by July, and most of it by October.
They expect the unemployment rate to climb to 4.75% by year’s end.
Another group, The Conference Board, thinks prices will rise faster and jobs will decline throughout the year.
Even a recent agreement with China might not be enough to avoid trouble.
In short: if these forecasts are right, Americans could soon be paying more for goods—and some may even lose their jobs.