I believe that with Trump continuing to impose more tariffs which are likely to begin taking effect starting from August so we are going to face very difficult times, both on a global level including the stock market and shares, and also on an individual level. Many people will suffer from these tariffs which will significantly increase inflation as we have already seen signs of today. As a result, prices of goods will rise.
The question that comes to mind is: are individuals around the world able to bear these consequences? In my opinion, I don’t think we are ready for more inflation and rising prices. But I also believe that this is the last thing on the minds of economic officials. Experts expect that the prices of goods could increase by around 50%, which would definitely be a disaster for individuals and especially for those with low incomes.
As for investors and businesspeople, their situation isn’t much better. Imposing tariffs on imports will raise the cost of most goods for them, and many people in the industrial sector may face problems related to recession and further commercial stagnation. This will especially affect those who do not have a strong cash reserve and whose wealth is mostly tied up in stock market investments.
Therefore, I hope that these tariffs are just a threat from Trump, and that other countries do not respond by imposing counter tariffs. If they do, it will ignite the global trade market and drag us into an economic war that we are not prepared for. That’s why I agree with those who say these tariffs might just be a pressure tactic to revise some trade agreements something we truly hope will happen as if not I think we will face a hard period on the economic level.
