LeadStory

What impact will the new tariffs have?

Asked 9 hours ago

Answer

The new tariffs are expected to raise consumer prices, disrupt supply chains, and impact both company earnings and employment. Sectors such as copper, textiles, and retail are particularly affected, with costs likely passed to consumers. Some countries face economic hardship and job losses, while markets remain resilient but cautious.

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CBS News

Trump announces tariffs on European Union, Mexico

CBS News · Current
CBS News
CBS News
Current
  • President Trump announced new 30 percent tariff threats on the European Union and Mexico. 15s
  • The tariffs are justified by Trump as a response to trade deficits and concerns over drug cartels. 35s
  • Canada was also targeted with new 35 percent tariffs and has responded with countermeasures. 1m 1s
  • Some U.S. lawmakers warn the tariffs could increase economic instability. 1m 47s
  • Despite tariff threats, the S&P 500 has gained 26 percent since April. 2m 13s
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References

Trump announces tariffs on European Union, Mexico
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CBS News
1 day ago
Trump announces tariffs on European Union, Mexico

Critics warn the tariffs could increase economic instability, though U.S. stock markets have shown resilience.

Trump intensifies trade war, threatens 30% tariffs on EU, Mexico
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CBC News
1 day ago
Trump intensifies trade war, threatens 30% tariffs on EU, Mexico

European leaders warn of disruption to transatlantic supply chains and economic recovery, with business leaders concerned about damage to both economies.

Copper tariffs likely to be passed off to consumers: Michael Widmer
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CNBC
3 days ago
Copper tariffs likely to be passed off to consumers: Michael Widmer

Copper tariffs are only partially priced in and are likely to be passed on to consumers, as companies may not absorb the full cost.

Trump puts 35% tariff on Canada, eyes 15%-20% levies for others
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Reuters
3 days ago
Trump puts 35% tariff on Canada, eyes 15%-20% levies for others

The tariffs might hurt inflation and the economy a little, with consumer prices for products like orange juice and coffee expected to rise.

Lesotho declares two-year state of disaster amid U.S. tariff fallout
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Africanews
3 days ago
Lesotho declares two-year state of disaster amid U.S. tariff fallout

U.S. tariffs have devastated Lesotho's textile industry, causing significant job losses and pushing unemployment to 30%.

L.A. port head says lower cargo volume could impact holiday season
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CBS America
3 days ago
L.A. port head says lower cargo volume could impact holiday season

The new tariffs could hit store shelves hard, leading to lower inventory, fewer product selections, and higher prices for consumers during the holiday season.

Trump broadens trade war: who will pay for it?
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CNBC
3 days ago
Trump broadens trade war: who will pay for it?

The tariffs could generate up to $400 billion annually for the government, but the costs will likely be shared between consumers through higher prices and companies through lower earnings.

Tariffs weigh on back-to-school
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CNBC
3 days ago
Tariffs weigh on back-to-school

Tariffs are contributing to higher prices on school supplies, leading families to change shopping habits and reduce real spending.

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