Trump defends new tariff plan as consumers and businesses voice concerns
President Donald Trump is celebrating his new tariff plan one day after it took effect, imposing import fees of 10 to 50 percent on goods from more than 90 countries.
(NBC)- President Donald Trump is celebrating his new tariff plan one day after it took effect, imposing import fees of 10 to 50 percent on goods from more than 90 countries.
“We have a country that’s the hottest country in the world right now,” Trump said Friday, touting the policy as an economic win.
But while the White House praises the move, consumers and business owners say they are feeling the pressure.
“It’s going to hit us very hard,” said Queens resident Nia Silva. Business owner Rose Schneider added, “It doesn’t feel like you are standing on solid ground. It’s hard to make decisions.”
A new CNBC poll shows rising concern over the plan, with respondents saying inflation is increasing faster than their incomes. The survey found 51 percent believe tariffs hurt workers and raise prices, compared to 45 percent who support them. The administration has indicated more tariffs could be coming, specifically targeting microchips, semiconductors, and pharmaceuticals.
Meanwhile, the White House has set another deadline — threatening to increase economic sanctions on Russia if President Vladimir Putin does not call for a ceasefire in the war with Ukraine by midnight.
“It’s going to be up to him,” Trump said, referring to Putin. “We’re going to see what he has to say.”
Sources say talks between U.S. and Russian officials are intensifying, with a possible face-to-face meeting between Trump and Putin as early as next week. If it happens, it would mark the first meeting between a U.S. and Russian president since Joe Biden’s summit with Putin in Geneva more than four years ago.
