Maybe it’s just me, but it feels like every purchase I make comes with a hefty price tag. Between an inflated cost of living and ever-rising bills, it seems as though simply staying afloat financially—much less getting ahead—is impossible, including for the most financially savvy people out there. To make matters worse, President Trump imposed a slew of new tariffs last week, sending the market and global economy into a volatile period of uncertainty. Those tariffs have now been paused, though a base tariff of 10 percent remains. This will-they-won’t-they dance has merely poured salt in the wound and done little in the way of assuaging my fears about the economy. If anything, I’m more stressed about my finances than ever before.
Needless to say, this got me thinking: How, exactly, will President Trump’s tariffs impact my finances, should they be put forward again? To answer this vital question, I tapped four financial experts. Ahead are their responses and all you need to know about how tariffs will actually impact your finances moving forward.
In this article 1 Experts Consulted 2 First, what are tariffs? And why are we talking about them RN? 3 How the tariffs are going to impact your personal finances