The slew of tariffs President Donald Trump announced Thursday night will make goods from impacted countries more expensive to import into the United States once they take effect. That doesn’t necessarily mean consumers will immediately feel the impact because businesses tend to shoulder some of the costs. But it may speed the timeline up for when they may be forced to pass along some of the expense they’re paying to consumers in the form of higher prices.
The highest new “reciprocal” tariffs announced — which go as high as 41% — aren’t the most consequential, because in many cases they aren’t being imposed on top countries from which America imports goods. That, of course, doesn’t mean goods from places like Syria, Laos, Myanmar, which are seeing some of the highest new rates, won’t get more expensive. It just means Americans might not feel it as much.
Here are some of the goods that are poised to get more expensive based on new tariff rates:
- Electronics: Tariffs on goods from top electronic suppliers, India and Taiwan, increased to 25% and 20%, respectively, up from 10%. Among the many electronics that could get more expensive are televisions, computers and cellphones.
- Clothing, accessories, footwear: Vietnam, Bangladesh, India, Indonesia and Cambodia are all among the top countries the US buys these goods from. All the tariff rates increased from 10%.
US stocks open lower as Trump’s tariffs rattle markets
Stocks dropped Friday morning as investors digested President Donald Trump’s unveiling of tariffs on trading partners across the globe.
The Dow opened lower and tumbled 600 points, or 1.4%. The broader S&P 500 fell 1.6% and the tech-heavy Nasdaq Composite slipped 2.1%.
“With markets already pricing in much of the good news on the trade front, we expect stock volatility to pick up in the near term,” Ulrike Hoffmann-Burchardi, global head of equities at UBS Global Wealth Management, said in a note.
Read more on the market reaction here.
Huckabee praised GHF for distributing 100 million meals in Gaza. Here’s why that’s not enough
Mike Huckabee, the United States ambassador to Israel, praised the Gaza Humanitarian Foundation (GHF) for delivering more than 100 million meals in the territory since it was launched in May.
When Huckabee visited Gaza Friday, he was pictured in front of posters reading “100,000,000 meals delivered.”
If 100 million meals have been distributed to each of Gaza’s 2.1 million people, that works out at just one meal a day for 47 days for every resident. The GHF has been operating for nearly 70 days.
It is also unlikely that GHF meals have been able to reach all of Gaza’s residents. There are only three active distribution sites in the enclave, in southern and central Gaza – far fewer than hundreds under the previous aid model run by the United Nations. This has forced massive crowds to gather at GHF locations, where hundreds of Palestinians have been killed, according to the UN.
Philippe Lazzarini, the head of UNRWA, the main UN agency for Palestinian refugees, has said that the “flawed” GHF mechanism “is not designed to address the humanitarian crisis,” but to serve “military and political objectives.”
He said UNRWA has 6,000 trucks filled with aid waiting to enter Gaza, and has demanded that they be allowed in.
