US Tariffs Backfire? Report Warns of Economic Hit

Could new US tariffs end up hurting America more than its global rivals? Standard Chartered’s Chief Investment Officer Steve Brice dropped a take this week, arguing that America’s latest trade moves may be a self-inflicted wound.

In an interview with CGTN, Brice said markets are waking up to the reality that the US is now the 'source of tariff-driven uncertainty.' While tariffs are often framed as protecting domestic industries, he warned the biggest economic pain might land squarely on US soil.

Tariffs: A Self-Inflicted Wound?

Think of it like this: Imagine punching a wall to hurt someone else – ouch, right? Brice suggests the tariffs, intended to shield US businesses, could instead hike costs for American consumers and disrupt supply chains.

Markets on Edge

Global investors are reportedly spooked by the unpredictability. 'The biggest impact may fall on the US economy itself,' Brice said, highlighting risks like slower growth and inflation spikes. For Gen Z and millennials already battling high costs, this could add fuel to the fire.

The takeaway? Trade wars aren’t just geopolitical drama – they hit wallets, portfolios, and TikTok shopping hauls alike.

Reference(s):

Standard Chartered: US may suffer most from its new tariffs

cgtn.com