Trump’s tariff plan could drive up prices, experts warn
In the upcoming November election, Donald Trump’s proposed tariff hikes could mirror the inflationary effects seen during his previous term, experts warn. If re-elected, Trump’s plan for blanket tariffs could drive up cargo rates and consumer prices, echoing past disruptions in shipping and retail sectors. Critics, including Democratic Vice President Kamala Harris, argue these tariffs act like a “Trump sales tax,” burdening American families and businesses. U.S. presidential contender Donald Trump’s plan to hike tariffs on imports if he is elected back to the White House in November would send cargo rates soaring and accelerate inflation, just like it did during his 2017-21 term, shipping and retail experts said. Trump, who is running against Democratic Vice President Kamala Harris in the Nov. 5 election, has floated second-term plans for blanket tariffs of 10% to 20% on virtually all imports as well as tariffs of 60% or more on goods from China, in a bid to boost U.S. manufacturing. I...