US Tariffs Surge, Affecting 90+ Countries and Costs

President Donald Trump has imposed new tariffs on imports from over 90 countries, raising the average effective tariff rate for U.S. consumers to 18.4%, the highest in 92 years. Some countries, including Canada, Brazil, India, Taiwan, and Switzerland, now face tariffs as high as 50%. The move has led to an estimated $2,400 annual income loss per U.S. household and contributed to a short-term inflation increase of 1.8%. The tariffs have disrupted global markets, caused European shares to dip, and created new economic divides, such as between Northern Ireland and the Republic of Ireland. Price increases have affected a broad range of consumer goods, although some businesses have absorbed part of the costs. Trade negotiations are ongoing, and further tariff adjustments are expected.