Trump's Proposed Tariffs Threaten to Spike Shipping Costs and Inflation

Experts warn that Trump's plan for new tariffs could lead to higher consumer prices and supply chain disruptions, echoing previous impacts from his first term.

• Donald Trump has proposed blanket tariffs of 10% to 20% on almost all imports, with specific tariffs of 60% or more on goods from China.
• Shipping and retail experts predict these tariffs will cause ocean freight rates to soar, similar to the 70% spike seen in 2018 during Trump's first term.
• The National Retail Federation and other industry groups oppose the tariffs, arguing they will increase costs for consumers and hurt businesses.
• Current global supply chains are already strained due to geopolitical conflicts and potential port strikes, exacerbating the potential impact of new tariffs.
• The Biden administration has delayed its own proposed tariff increases on Chinese goods, contributing to current market uncertainties.

3 Articles

Denver Gazette CNBC