President Donald Trump yesterday launched far-reaching new tariffs on nearly all U.S. trading partners, more than 150 countries, including a 34% tax on imports from China and 20% on the European Union. The Associated Press reported the tariffs threaten to wreak havoc on the global economy and incite broader trade wars. WRCR market analyst Ken Mahoney of Mahoney Asset Management says the move is likely to drive everyday prices higher…
The president said the tariffs were designed to boost domestic manufacturing. Meanwhile, many middle-class Americans are bracing for increased costs on everyday items including housing, autos and clothing.