#TrumpTariffs

President Trump announced the imposition of new tariffs of at least 10%, with the possibility of raising them to 50% on countries that do not reach trade agreements with the United States before August 1. This move aims to reduce the trade deficit and support American industries, but it has raised widespread concerns among economists and businesspeople. Major countries like India and the European Union are racing against time to reach agreements. In response, some countries have decided to retaliate by imposing counter-tariffs. This escalation could lead to rising prices of goods in the American market and negatively impact economic growth, especially for those with low and middle incomes.