#TrumpTariffs TrumpTariffs News

Former President Trump has reintroduced sweeping tariffs, targeting 14 countries including Japan, South Korea, and BRICS nations. Starting August 1, new duties up to 50% will hit goods like copper, autos, and semiconductors. Trump frames them as “reciprocal trade actions,” aiming to push nations into bilateral deals. Allies scramble for exemptions while economists warn of inflation and consumer cost hikes. The Wharton model predicts GDP could fall 6% long-term, with middle-class households losing up to $22,000 in lifetime income. Markets remain resilient—for now—but global trade tensions are rising fast as deadline pressure builds on foreign governments.