Tariffs take effect
photo by hernan4429
In what will likely be written about for decades to come, President Trump unveiled reciprocal tariffs on more than 180 different countries on April 2. The move was bold but potentially could lead to a trade war with many countries and regions of the world.
While many agree that changes should have been made to the current trade agreements, the proverbial pulling off of the band-aid has left a lot of economists and politicians stunned. It remains to be seen what the end result will be. Many think these are just to start negotiations with other foreign powers, but the true result will be felt over the next few months. We can expect higher prices for many items, yet we might also see opportunity for some of our local businesses to have a competitive advantage.
As of now, paper is exempt from any tariffs but it is still being evaluated. The financial markets are having a negative reaction to the news with the Dow being down 1,400 points, the S&P down 239 points and the Nasdaq down 955 points.
Category: News
