US EditionTrump's Tariffs Could Squeeze US Factories and Boost Costs by up to 4.5%, a New Analysis Finds
UNITED STATES, JUL 31 – New tariffs could raise factory costs in the U.S. by 2% to 4.5%, risking layoffs and wage stagnation according to analysis by the Washington Center for Equitable Growth.
- President Donald Trump plans to begin tariffs ranging from 15% to 50% on imports from dozens of countries starting August 1, 2025.
- The United States has introduced new trade agreements involving the European Union, Japan, and other nations that are designed to increase import tariffs as part of ongoing trade policy measures.
- A June analysis shows U.S. factories face rising costs by roughly 2% to 4.5%, with companies likely passing about half the tariffs onto consumers as prices increase.
- Chris Bangert-Drowns said, "There's going to be a cash squeeze for a lot of these firms," and Montana Knife's president noted they "cannot hire those extra few people" due to tariffs.
- Experts warn tariffs risk wage stagnation, job losses, and slower growth while Trump claims tariffs will reduce the deficit and boost factory jobs.
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Los Angeles Times
Independent EspañolThe deafening roar of hundreds of sewing machines has remained silent.
sgtreport.com
Mish Talk - Global Economic Trend AnalysisFactory Making Trump Brand Clothes Shuts Down After U.S. Tariffs
by Mish Shedlock, Mish Talk: The BBC reports ‘How will we survive?’ Lesotho factory that made Trump golf shirts hit hard by US tariffs A garment factory in Lesotho, which has produced Trump-branded golf shirts, may have to soon shut down following the massive import taxes, or tariffs, imposed by the US government earlier this year. […]
The small African nation of Lesotho, which US President Donald Trump said “no one has ever heard of,” has declared a state of “national disaster.” This was due to high youth unemployment and job losses due to expected high US tariffs and cuts in aid. In a small country where the textile industry is key, the factory that makes Trump’s golf shirts is also at risk of closure.
US tariff deadline looms over African nations
African countries are braced for the US to impose new tariffs on imports from Aug. 1. Washington has announced a number of deals — including with the EU, Japan, and UK — but none with African nations. Most countries will face a baseline 10% tax on their exports but some face higher tariffs. Lesotho is set for a 50% levy, the highest in Africa, prompting the nation to declare a state of emergency over the threat to its textile industry.South Afri…
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