#TrumpTariffs President Trump has recently announced 25–40% tariffs on imports from 14 countries—including Japan, South Korea, Thailand, and Bangladesh—which could take effect on August 1 after the early July delay . These reciprocal duties have already rattled stock markets and weakened the U.S. dollar—its biggest drop since 1973—amid growing inflation concerns . Federal Reserve Chair Powell has explicitly cited Trump’s tariffs as a reason for holding interest rates steady due to rising price pressure . On the global front, industries are warning of substantial impacts: Italy forecasts losing €20 billion in exports and 118,000 jobs, while U.S. small to mid‑size employers could face a $82 billion burden . Economists widely criticize the policy, highlighting risks to growth, inflation, and household income, even as some believe it may boost federal revenues .