President Donald Trump's sweeping global tariffs are now in effect, but more data on their impact in America could be months away. Ann Berry, the host of "Brew Markets," joins CBS News with more.

Washington

President Trump's recently implemented tariffs have introduced higher duties on imports from several countries, with some rates reaching up to 50%. According to financial expert Anne Barry, some sectors are already experiencing price increases, as companies anticipated the tariffs and adjusted prices in advance. The full impact on American consumers and businesses is expected to become more apparent in the coming months, particularly as companies report their next quarter's earnings.

Despite the significant changes, global markets have not shown a strong reaction, partly because the final tariff rates are lower than initially proposed and there is uncertainty about how long the tariffs will remain in place. Large companies, such as Apple, have announced major investment commitments in the United States, which may help them secure exemptions from some of the tariffs. These strategic moves are seen as efforts to mitigate the impact of the new trade policies.

When will Americans feel the impact of Trump's tariffs?

President Trump says billions of dollars are now flowing into the United States as a result of his sweeping new tariffs. The higher levies are impacting dozens of countries, with some duties reaching as high as 50%. Let's bring in financial expert Anne Barry. She is founder of Threadneedle Ventures and the host of Brew Markets. Anne, so great to have you on. It's only been one day since these tariffs took effect. How long could it take for Americans to start feeling the impacts of these levies? Well, in some sectors, they're feeling the impact already, because we do know that some consumer goods categories actually put up their prices preemptively, anticipating that some level of tariff was going to sink in. Now that we've actually seen those officially kick in as of yesterday, without a clear line of sight to them being revoked, so that's imports from the EU, from India, from Japan, from South Korea, from other nations, I think by the time we're having this conversation, three months from now, talking about the next quarter's earnings, we're in the thick of earnings season, we're going to see consumers having felt more impact and we're going to see companies reporting what the impact on that in terms of some reduced sales for consumer facing companies will actually have been. You know, for some of the people watching this, it may be surprising that global markets haven't had too strong of a reaction to these new tariffs. Can you walk us through why that is? And are investors questioning whether these tariffs will stick and other deals that could be made? So I think there are a couple of reasons here, and there's sort of a lot to unpack. Number one, the market is up, and the market seems to be up because the least bad outcome has landed. It's an extraordinary thing to say and points to the sentiment that we've got. When we look back at the original levels of new tariffs that were announced in April by President Trump, they were significantly higher than where they are today. That being said, today's tariffs are in many cases three times the level they were at the beginning of this year. So the market is showing some kind of exuberance because the least bad outcome has begun to land. That's number one. Number two, to the point in your question, there is some, you know, consideration that perhaps these tariffs won't stick. They have been volatile. And number three, and I think this is really when it comes to some of these big companies like Apple that have announced huge investment packages to the tune of $600 billion in the United States as a way to bargain their way getting exemptions or carve outs from their products being hit by tariffs. I think that the market is saying in the cases of the Apples of the world, the CEOs are playing for time. They're making these big announcements that seem to be able to get them exemptions from the worst of the tariff policies in terms of impact. And the likelihood is that following through on those commitments is going to take a lot longer than three and a half years through the next election. So I think they're saying smart politics by these CEOs, not necessarily an impact on the core business right now. Barry, we appreciate your insight and time. Thank you for coming on the show.

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Breakdown