#TrumpTariffs

📌 Today’s Highlights

1. Canned food costs are spiking

Doubling steel and aluminum tariffs to 50% is expected to raise canned food prices (like tuna, beans, Spam) by up to 15%, disproportionately impacting low-income Americans—especially SNAP recipients. Food banks are warning of ririsingfoodinsecurity

2. Small businesses are stressed

Smaller U.S. firms—especially those reliant on Chinese imports—are delaying product development, pausing manufacturing, and laying off staff. Tariff uncertainty has diverted resources from innovation to compliance

3. Trade war backfiring

Analysts argue that Trump’s trade conflict is harming the U.S. economy more than protecting it. Economic growth is slowing, supply chains disrupted, courts have labeled the tariffs unlawful, and public support is eroding .

4. Market volatility in steel

Steel stocks plunged after a sudden policy pivot—tariffs were raised to 50%, then lifted for Canada and Mexico—highlighting investor discomfort with erratic trade policy

5. Economic resilience & hidden costs

Despite moderate inflation (~2.4% core) and modest job growth, economists caution mounting hidden impacts: long-term growth slowdown, consumer price hikes, and stifled business investment

🔍 Big Picture Insight

Domestic industry winners, like some steelmakers, may see short-term gains—but many small businesses and consumers face higher costs.

Global supply chains are reorienting toward Mexico and other nations ("nearshoring"), as U.S. tariffs push commerce elsewhere

Legal challenges are intensifying: multiple court rulings have deemed the tariffs unlawful, now awaiting Supreme Court review

Fiscal strategy debate: The CBO reports tariffs could reduce deficits by $2.8T—but risks include higher inflation, lower GDP and consumer purchasing power