Tariffs, which are taxes on imported goods, are paid upfront by businesses, who often pass on some of those costs to consumers by raising prices. But, given that overall inflation has so far remained tame, even with the tariffs that are already in effect, Trump and administration officials have insisted there’s no reason to believe that any additional tariffs will cause goods to get significantly more expensive.earlier this week, Trump sent dozens of letters to a variety of longtime US trading partners informing them that they could soon face tariffs ranging from a minimum of 25% all the way to a whopping 50%. Many economists already believe it’s a matter of time before Americans start to see sticker shock from the tariffs President Donald Trump has enacted. That timeline could speed up even more if Trump follows through with his latest package of tariff threats slated to take effect in three weeks. Do you think that Trump is trying to make few individuals richer at the expense of the majority ?
