High tariffs: These 23 everyday items to become more expensive when Donald Trump takes office on January 20, 2025
Donald Trump's decision to impose higher tariffs on imports may be implemented as soon as he comes to power at the White House on January 20 next year. This is the day he would ascend to power at the White House, backed by a huge mandate from the US Presidential elections, which he achieved by convincingly beating Kamala Harris, by even whitewashing her in all the key swing states.
Will increased tariffs on imports save local US markets?
When he takes office on the day, one of the first things he is destined to do will be increasing tariffs on imports. Even though doing this is an effort to save the local industries in the United States, which are getting crippled due to cheaper foreign products, these import tariffs would hurt the pockets of Americans as more then 20 everyday item prices would see a whopping increase, as per reports.
Would increased product prices became a pain for US consumers?
The proposal included broad tariffs on multiple imported goods across different categories, including higher taxes on products. But this approach includes both pros and cons, as these taxes will definitely help local businesses but would raise purchase costs for consumers, something that could become a fundamental for inflationary markets.
<div data-placement=«Mid Article Thumbnails» data-target_type=«mix» data-mode=«thumbnails-mid» style=«min-height:400px; margin-bottom:12px;» class=«wdt-taboola» id=«taboola-mid-article-thumbnails-115196302»>FAQs:
Is Donald Trump going to increase tariffs on imports? Donald Trump has planned on increasing tariffs on imported goods to the United States, which has been a priority in his election agenda.
Has Kamala Harris lost the US elections? Yes, Kamala Harris has ended up losing the US
