Hey everyone, big news in trade policy! U.S. tariffs are stirring up serious debate. Former Vice President Harris slammed Trump’s tariff policies as "reckless," warning that rising costs on everyday essentials are squeezing workers and small businesses. 🚨
Former Treasury Secretary Yellen echoed these concerns in her chat with Financial Times. She pointed out that steep levies—especially on goods from the Chinese mainland—could push the U.S. closer to a recession. With about 40% of imports acting as inputs for domestic production, the ripple effects could be huge.
The pushback isn’t just coming from political heavyweights. A wave of lawsuits from several states and urgent calls from business groups are demanding a clear tariff exclusion process to ease the economic pressure. Even giants like Amazon had to rethink their pricing strategies after facing direct pressure from Trump. 😬
For young professionals and tech enthusiasts in vibrant hubs across South and Southeast Asia—think Bengaluru, Ho Chi Minh City, or Kuala Lumpur—the impact of these trade tensions is hard to ignore, affecting supply chains and market trends. As this high-stakes tug-of-war unfolds, we’ll keep you posted on how it might shape global economic trends!
Reference(s):
cgtn.com
