$ETH
The risk for Americans is, first, that imported goods will go up in price and, second, that components for US manufacturers will become more expensive, pushing up prices of goods completed in the US.$XRP
The third effect is expected to be that such trade barriers act as an invitation to US producers to put up prices simply because they can. They are protected from overseas competition.
A fourth impact could be that when Americans travel overseas, as both president and vice-president have been in doing in Scotland, the weakened dollar makes that so-called "invisible export" more expensive for them - by around 10% in the case of the UK than it was last year.
Where Americans are employed in selling imported goods, their businesses and jobs are on the line.$SOL
Anne Robinson at Scottish Gourmet USA says: "Tariffs are a tax that benefits no-one. There is no service, no government program, nothing except this added cost.
"These are taxes on US companies that import anything - hurting small business and large, making planning and pricing nearly impossible as the possible tariffs change frequently."
She lists the various opportunities being lost because of the Trump policy: "We are holding off hiring, raising wages for deserving employees, possible expansion of our warehouse space and many other possible purchases that could help our business grow because of the tariffs and resulting fall in the value of the dollar.
"When we should be thriving, instead we are struggling."
