Get ready for COVID 2.0, only this time it won’t be a virus that disrupts the economy. In this case it will be in the form of an indirect sales taxation known as the Trump Tariffs that will cripple the American economy and cause havoc around the world. Just like COVID caused businesses to suffer and disrupted the worldwide supply chain, these massive tariffs will do the same thing on a global scale and it will be the consumer who pays the price. Tariffs (aka Import taxes) will be passed along to the consumer by manufacturers and retailers as the cost of their goods increase. This in turn will result in more inflation, market uncertainty, product shortages, economic slowdown, perhaps higher interest rates, and the possibility of a recession. You don’t have to be a Harvard educated economist to understand what all of this means, and you will soon learn, if this Tariff induced Trade War continues to run its course.
Alvin Ward, Meeker