Trump Raises Tariffs, Shakes Global Economy
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President Trump said tariffs would change the economy on Friday. Officials said this deadline was very important and real. But the start date was changed to update the tariff plans.
Trump said the tariffs were going very well. He said deals could still be made later. He said tariffs will make the U.S. rich and respected.
Some worry the tariffs hurt America's global position. They may also cause higher prices and slow growth. The legality of the tariffs is being questioned in court.
Some people think the tariffs are bad for America. They worry about uncertainty and high taxes. Trump set the Friday deadline after problems in the stock market.
Some countries will have higher tax rates now. Others will have lower tax rates. Companies are worried about the costs of the tariffs and possible job losses.
Questions
What did President Trump say about tariffs on Friday?
He said tariffs would change the economy.
What do some people worry about regarding the tariffs?
They worry the tariffs hurt America's global position and may cause higher prices.
What did Trump say about the effects of tariffs on the U.S.?
He said tariffs will make the U.S. rich and respected.
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