Political uncertainty remains as Trump strikes temporary tariff deals
Even though Donald Trump made last-minute agreements with some of the country's closest allies that allowed him to back down from his earlier threats, the effects of his long-promised promise to use tariffs as a political tool began to become clear on Monday.
Trump declared on Sunday that he will impose 10% tariffs on China, a political adversary, and a wide 25% tariff on Canada and Mexico, two allies of the United States. Even if the action was anticipated, it nevertheless raised concerns about the growing prices of commodities throughout the American economy.
Trump ran on a platform of cutting expenses and reducing inflation, which makes that worry especially strong. According to Yale University's Budget Lab, Trump's tariff ideas would reduce the purchasing power of American households b...