US goods imports have dropped by 20% in April, according to data, as a result of Donald Trump’s tariffs disrupting trade. The decline follows the imposition of new taxes on imported goods, which aim to reduce the country’s trade deficit.
The tariffs, imposed under Trump’s presidency, have had a significant impact on US businesses and consumers alike. With prices increasing for certain products, consumers are feeling the pinch. Meanwhile, American exporters are struggling to compete with foreign competitors who do not face similar tariffs.
Economists warn that the ongoing trade tensions could further exacerbate the economic uncertainty facing the US. As the country’s largest trading partners, China, Canada and Mexico, prepare for potential retaliatory measures, the situation remains volatile.
Source: https://www.ft.com/content/e5184049-62a4-4ee0-8919-5d06c4e9c70c