Highest US tariffs since WWII set to cut growth, boost inflation
China faces multilayered tariff structure with fentanyl penalties adding to trade war burden, as economists warn of significant demand disruption across Asia-Pacific.
U.S. Senate Minority Leader Charles Schumer attends a news conference in the U.S. Capitol on rising prices prices ahead of President Donald Trump's August 1 tariff deadline on Thursday, July 31, 2025. Image: Getty Images
U.S. Senate Minority Leader Charles Schumer attends a news conference in the U.S. Capitol on rising prices prices ahead of President Donald Trump's August 1 tariff deadline on Thursday, July 31, 2025. Image: Getty Images