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U.S. Tariffs Hit Century-High Levels Despite Trump’s Partial Retreat

Trump Tariffs Impact on Precious Metals
Trump Tariffs Impact on Precious Metals

Despite President Trump’s partial retreat on tariffs, the average U.S. effective tariff rate remains at 25.3%, the highest since 1909, according to Yale’s Budget Lab.

Even after consumers shift to alternatives, the rate will be 18.1%, highest since 1934.

Consumers can expect significant price increases: clothing prices up 58% short-term and 26% long-term, food prices rising 2.5% initially and 2.9% long-term, and new car prices increasing by about $8,700.

China now faces a total tariff rate of 145%, while most other trading partners received a temporary reduction to 10%.

Eight more from the desk

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