Trump's new tariffs will take effect at 1:00 PM Beijing time on February 24.
Content: Increasing the global tariffs on multiple countries from 10% to 15%, and emphasizing that it is "completely legal and legally tested."
Less affected: pharmaceuticals, complete vehicles, energy, minerals—these strategic or essential sectors.
More affected: daily necessities, clothing, shoes and socks, furniture, appliances, and other consumer goods.
In other words, companies may not be the hardest hit; ultimately, consumers will bear the cost.
It is estimated that an average American household could spend over
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