After a week of market instability, President Trump announced a revision to his tariff policy, setting a 10 percent tariff rate across the board, with the exception of China, which faced an increased rate of 125%. These adjusted tariffs, even at a lower level, represent the highest rates the country has experienced in decades.
Subsequently, the heightened tariffs are anticipated to lead to increased prices for American consumers. Martha Gimbel from the Budget Lab at Yale examined the implications by considering potential price increases for t-shirts, rice, medication, and other essential items during a hypothetical visit to a retail store.
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The episode was produced by Erika Ryan and Connor Donevan, with audio engineering conducted by Simon-Laslo Janssen. Christopher Intagliata served as the editor, and Sami Yenigun is the executive producer.
