Washington — The tariffs imposed by former President Donald Trump during his trade war are expected to lead to shortages of imported goods. These tariffs have resulted in a 20-30% drop in the volume of products entering U.S. ports, similar to the reduction seen in April 2020 due to the pandemic. The uncertainty caused by fluctuating tariff rates has made it difficult for companies to plan effectively.
Bernie Hart, vice president at Flexport, stated that in his 40-year career, he has never witnessed such disruption. Larger retailers may have inventory to temporarily mitigate shortages, but once depleted, empty shelves are likely. Trump’s tariffs, including a 145% tax on Chinese goods, have severely impacted small businesses like David Levi’s electronics kits company, potentially forcing closures.
Legal challenges against these tariffs argue that Trump exceeded his authority under the International Emergency Economic Powers Act. Supply chain disruptions caused by these tariffs mirror those experienced during the pandemic, though this time the cause is presidential decisions rather than a global health crisis.
— new from HuffPost
