Monday’s threat is just the latest in a long line of whopping trade penalties imposed by the White House. Last week, the president unveiled a 100 percent tariff on branded drugs, a 25 percent tariff on heavy trucks, a 50 percent tariff on kitchen cabinets, and a 30 percent tariff on upholstered furniture.
In the end, it will be America that pays the price for Trump’s aggressive trade policies. Countless companies have already introduced price hikes on consumer goods to offset the cost of doing business under the president’s unconventional economic plan (practically every company outsources some component of its manufacturing or business in the current era of globalized trade).
Some of the companies that have already announced price spikes include Adidas, Nike, AutoZone, BestBuy, Columbia Sportswear, Ford, Macy’s, Nintendo, Proctor & Gamble, Walmart, Target, Shein, and Temu.
