From Falkland Islands to Syria, from India to Bolivia – few countries in the world remain untouched by Trump’s tariff tirade.
But back home no matter how little or much you understand about the economy and global trade; you know that the prices of much that is essential to the American consumer – from coffee to clothes, from Brazilian beef to medicines - are now going to soar.
Through Trump's latest suicidal move which is likely to affect both the American consumers and the exporting nations (leaving none but Trump as the King) economists estimate goods worth billions of dollars and the American consumers will face the brunt.
Well at least Mexico – from whom the US imports a majority of its agrarian supplies remains untouched – atleast for the next 90 days.
(Trump has extended the deadline for a tariff deal with Mexico by another 90 days)
The new tariffs, outlined in a sweeping order will come into effect from 12:01 a.m. Eastern Daylight Time on August 7.
Even as chaos is unleashed on the global economy after Donald Trump announced fresh tariffs on more than 90 countries, US Trade Representative Jamieson Greer has promised that Trump is "hitting the sweet spot” with every country.
Of course, as of now middle- and lower-class Americans seem to be the only ones really cornered with Trump’s blindfolded, bull-headed move.
What are tariffs?
As a small business that works with clothes, our supplies are also likely to be affected, but we will try our best not to let the costs trickle down to you – our consumers.
This is because we seek to inform and to mobilize.
Our t-shirts are not just t-shirts, they’re voices – yours, mine, and ours.
So, it’s important that you know exactly what you’re wearing and the statement you’re making.
Tariffs are basically taxes.
They’re taxes that are paid by wholesalers who bring in goods from other countries.
They’re meant to protect the domestic markets from far cheaper goods coming in from abroad – to make the market self-sufficient, and boost the domestic economy, in this case the US economy.
But while this sounds great on paper, in practice, the costs are borne by the consumers one way or the other.
Your options in the market reduce, the supply of the product falls, and domestic sellers are able to charge way more for the same stuff.
On the other hand, cheaper foreign imports also cost way more than they did earlier.
So, the benefits that the tariff tirade is looking for – may or may never come.
Meanwhile the costs still have to be borne by the consumer, i.e. you.
The effects of Trump’s tariffs so far
So far, Trump’s whimsical announcements have sent not just prices of goods soaring but also slowed down job creation in the US.
The latest monthly report from the Labour Department showed that job creation slowed sharply last month, as employers added just 73,000 roles – this is presumably because employer companies have higher taxes to pay and lesser money to spare?!
In fact, reports state that job growth in May and June too are now far less than previously estimated.
Actual figures also show that Trump's trade war has only increased US goods imports – with firms hoarding supplies in anticipation of higher tariffs to be imposed.
On the other hand, US exports have seen only a modest increase.
Ultimately, figures show that Trump’s tariff tirade has so far only achieved the very opposite of what he sought to achieve, i.e. US goods trade deficit has widened hitting a record $162bn (£122bn) in March 2025, before falling back to $86bn (£65bn) in June.
But well at least we are going to benefit from a currently very obscure joint development of oil reserves with Pakistan sometime in the future!
Meanwhile, here’s Sending Thoughts and Tariffs your way!
So, if you want to help wake the President up, raise your voice and start a revolution – our ‘Sending Thoughts and Tariffs’ t-shirt is for you.