From rising costs to shrinking investments, tariffs may hit American consumers and businesses where it hurts, today and long into the future.

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British carmaker Jaguar Land Rover has drastically reduced its estimated profits due to growing concerns over US tariffs on the automotive industry. The revision comes after President Donald Trump imposed a 25 per cent tariff on all foreign-made vehicles sold in the US market.

The global economy faces significant challenges as President Trump's tariff policies contribute to a slowdown in growth. International organizations and experts highlight the widespread impact on national economies and consumer finances,

Trump's tariffs slashed farm exports, raised input costs and left farmers reliant on unsustainable bailouts, experts warn.

During his remarks in a Senate hearing in April, Senator Sheldon Whitehouse scolded a Trump Administration official over the impact of their tariffs on small businesses. Whitehouse stated, "That's all they've got.

The merchandise trade deficit stood at $21.88 billion in May, according to data published by the country's commerce ministry. That compared with the $22.09 billion recorded in the same month a year earlier. Exports fell by 2.2% on year to $38.73 billion, while imports ticked 1.7% lower to $60.61 billion.

Delta told the U.S. Commerce Department that millions of customers could be negatively affected if Trump imposes new tariffs.

Just one day after the US Court of Appeals temporarily reinstated the Trump Administration’s Liberation Day tariffs of between 10% and 50% on nearly every country in the world, Trump announced tariffs on all US imports of steel and aluminium will increase from 25% to 50%.

Brussels negotiators hope that by agreeing to a 10% US tariff on all European Union exports, they can avoid higher tariffs on cars, medicines, and electronics, according to a report in German newspaper Handelsblatt on Monday.