With inflation surging, the Trump Administration’s August 1 tariffs hit already reeling American businesses. This round of tariffs – touching some $1.6 trillion in goods from 90 countries – layers on top of levies on steel, aluminum, copper, cars and auto parts, and a host of other goods from select countries. Will additional tariffs land on the dozens if not hundreds of products currently under ‘Section 232’ national security investigations, including semiconductors and downstream consumer technology products? Will the trade deal frameworks the U.S. brokered become real trade deals, or will they collapse under more tariff threats? Will every spat with a foreign leader prompt new tariff threats or orders? The sad answer is we just don’t know.
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