DURANT, Okla. (KXII) – On Monday, the country continued feeling the effects of President Trump’s sweeping tariffs, announced last Wednesday.
The tariffs are a 10% baseline tax on imports from all countries, with higher rates for the countries President Trump calls the “worst offenders” like Cambodia and China.
The President says the goal is to encourage people to buy more American-made goods, and to bring more manufacturing to American soil in the long term.
In the short term, Southeastern University Assistant Professor of Finance Dr. Arthur Tran said there are concerns about how this will affect the economy, like increased prices on imported goods.
“The foreign importers, they will need to pass that extra cost somehow and the consensus is that they’re going to pass it to the consumers,” Tran said.
Another early effect has been ongoing turbulence in the stock market.
“There’s an increase in uncertainty so that’s why you see a lot of stocks going down,” Tran said.
There is a lot of uncertainty, both from the companies themselves and the people holding investments, many of which have seen their portfolios plummet in the past few days.
“If we look at the Dow Jones right now, it’s down about 10% since the announcements on the 2nd,” Tran said. “That is quite a bit and should make a lot of people nervous, especially the people that are counting on that for their retirements.”
Going forward, Dr. Tran said it’s hard to predict exactly what will happen because this entire situation is uncharted territory.
“We may see that to go back up very quickly, we may see it going down further,” Tran said. “If you check back with me tomorrow, maybe we’ll have a different story to tell.”
Copyright 2025 KXII. All rights reserved.
发表回复