On January 15, 2025, in Chicago, Illinois, customers were seen shopping for groceries at a local store. The items they peruse and purchase often come from distant factories or farms, prompting a potential shift in consumer buying patterns.
Products like sneakers, T-shirts, beer, and other everyday essentials are typically manufactured in countries such as China, Mexico, and Canada before reaching American retailers. With President-elect Donald Trump’s impending inauguration and the likelihood of new import tariffs being announced soon, the intricacies of the global supply chain are under scrutiny.
While tariffs have become more familiar due to previous implementations by Trump during his first term in office on metals and other materials, the proposed levies for his second term could significantly impact household finances.
Many individuals may not fully comprehend the extent to which these tariffs could affect their daily expenses…
2025-01-20 07:00:01
Link from www.cnbc.com