Trump card dragon of inflation in America will be attacked but Americans’ pockets will be hit, big revelation made in the report

News India Live, Digital Desk: US President Donald Trump’s decision to impose heavy tariffs (import duties) on foreign goods has given sleepless nights to the global market as well as the American citizens themselves. A recent report has claimed that the worst impact of Trump’s ‘retaliatory tariff’ policy is not going to be on China or other countries, but directly on the pockets of American consumers.

What is Trump’s new ‘tariff war’?

Under his “America First” vision, President Trump has announced the imposition of heavy import duties on goods coming from countries like China, Mexico and Canada. Trump argues that this will boost domestic industries, but economists have the exact opposite opinion. The report suggests that when companies will pay more tax on importing goods from outside, they will recover it from the customers only.

Everyday things will become expensive

Due to this tariff war, the prices of the following things may skyrocket in the American markets:

Electronic Gadgets: There is a possibility of a huge jump in the prices of smartphones, laptops and other gadgets.

Automobile: Prices of new vehicles may increase due to expensive car parts.

clothes and shoes: Tax on clothes coming from Vietnam and China will have a direct impact on the middle class.

Kitchen Items: From coffee makers to toasters, every little thing can be expensive.

double blow on general public

Experts say that on one hand the Trump administration is calling it a masterstroke for the country’s economy, on the other hand common American citizens are going to suffer from rising inflation. The Federal Reserve report is also indicating that if the tariffs remain in place, the cost of living in the US could reach the highest level in the last decade.

global response

China and the EU have also indicated that if the US does not reduce tariffs, they too will impose heavy taxes on US products (such as soybeans and aircraft). This has created a situation of a ‘global trade war’, the direct impact of which is also visible on the global stock markets.