🚨 Your favorite $5 T-shirts and everyday essentials might soon become luxury items, thanks to new U.S. tariffs sparking fears of skyrocketing prices. President Donald Trump’s latest trade policies could hit closets and wallets hardest, experts say—and young consumers are likely to feel the pinch first.
The Price Tag of a Trade War
U.S. imports over 98% of its clothing, meaning tariffs on goods like apparel and leather could send prices soaring by 65% and 87%, respectively, according to Yale University data. Imagine paying nearly double for jeans or jackets! 👖🧥
‘Irreparable Harm’ for Small Businesses
The U.S. Chamber of Commerce is sounding the alarm, warning that small businesses could face ‘irreparable harm’ and the economy risks slipping into recession. In a fiery letter to the White House, they urged immediate relief: ‘The stakes are higher than ever.’ 📉💼
Pharma Costs Set to Spike 💊
Even prescription drugs aren’t safe. A 25% tariff on imported pharmaceuticals could add $51 billion annually to U.S. drug costs—pushing prices up by 12.9%. With most meds imported from Europe, this move might leave Americans choosing between pills and bills.
Public Backlash Grows
Over half of Americans oppose the tariffs, per a Reuters/Ipsos poll—including 25% of Republicans. As one expert put it: ‘This isn’t politics. It’s about people’s everyday lives.’ 💬
