Retailers across the US are warning of a cascade of price increases and product shortages as early as this month as a result of Donald Trump’s tariffs.
Some stores are preparing to raise prices within two weeks as the threat of tariffs of up to 125 per cent raise their costs, according to the Budget Lab at Yale University, worsening persistent inflation that has already forced many shoppers to limit their spending.
Even after the US president announced a 90-day pause on additional tariffs on Wednesday, the remaining 10 per cent blanket levy on most imports will raise prices 2.9 per cent overall, costing the average household $4,700 each year, the policy research centre estimates.
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