The #TrumpTariffs Play: Understanding the Economic Impact š„øš
President Trump's tariff policies have been a significant point of discussion in the economic world. Recently, Trump signed executive orders imposing tariffs on various imported goods.
A 25% tariff has been placed on goods from countries purchasing Venezuelan oil, while Chinese-origin goods face increased tariffs of 90% to 120% ad valorem.
Trump's administration aims to protect domestic industries and jobs through these measures.
However, critics argue that tariffs can lead to higher consumer prices and potential trade wars.
With the average effective US tariff rate rising to 27% earlier this year, the highest in over a century, the impact of Trump's tariffs on the economy remains a topic of intense debate.
