Trump's Tariff Turbulence: Looming Economic Impact

President Donald Trump is set to unveil new tariffs, sparking concerns about intensifying global trade tensions. While details are scarce, the proposed duties might include a 25% tariff on auto imports and a universal tariff plan. Economic experts warn of increased prices and potential economic slowdowns.

The White House revealed President Donald Trump's plans to introduce new tariffs, heightening fears of an escalating global trade conflict. The anticipated measures, to be detailed on Wednesday, have businesses and investors anxious as they brace for possible economic repercussions.

Key elements of the strategy include a 25% tariff on auto imports effective April 3, and potential universal tariffs on products from nearly every country. Consultations are ongoing, but the anticipation of these barriers is already unsettling markets and raising concerns about inflation and slower economic activity.

The administration's move is seen as a response to counter perceived unfair trade practices that harm U.S. manufacturers. However, economists and industry leaders warn that such tariffs could lead to increased costs for American households and dampen business confidence, posing a threat to economic stability.

(With inputs from agencies.)