US consumers brace for tariffs

Economists warn move could affect jobs and 'weaken' domestic competitiveness

Experts suggest that US consumers will bear the brunt as President Donald Trump prepares to launch reciprocal tariffs on key trading nations worldwide in what he has dubbed "Liberation Day".

The tariffs, expected to go into effect on Wednesday, will shake up international trade relationships, say economists, as they will impose reciprocal dollar-for-dollar levies on any nation that taxes US goods. Other analysts suggest the cost of cars, electronics, pharmaceuticals and metals will rise, stinging US consumers.

Thomas Fullerton, an economics professor at the University of Texas at El Paso, told China Daily, "This policy will be implemented in addition to the more problematic tariffs on steel, aluminum, automobiles and auto parts."