Washington's latest round of tariffs is creating ripple effects across the global economy, driving inflationary pressures and leaving over 30 million American small businesses scrambling to adapt. The measures, analysts warn, risk undermining consumer spending and complicating international trade relationships.
In a recent discussion on CGTN's BizTalk, Anton Muscatelli, Principal of the University of Glasgow and co-chair of the International Finance Forum Academic Committee, noted that "tariffs act as an indirect tax on households," adding that "lower-income families bear the brunt as essential goods become more expensive."
Wang Huiyao, founder of the Center for China and Globalization, emphasized the broader implications: "Trade barriers disrupt supply chains and hinder global cooperation at a time when economies need stability. These policies could slow post-pandemic recovery efforts worldwide."
With U.S. inflation rates remaining elevated, businesses face dual challenges of rising import costs and uncertain demand. The situation highlights growing anxieties about protectionism's long-term impact on economic growth and multilateral trade frameworks.
