U.S. President Donald Trump is preparing to slap tariffs on America’s largest trading partners despite rising signs of an increasingly less stable economy.
What To Know: Trump has announced plans to impose 25% tariffs on imports from Canada and Mexico, as well as 20% tariffs on China, beginning Tuesday, according to CNN.
Meanwhile, consumer confidence has taken a turn, some GDP forecasts have gone negative and consumer spending unexpectedly declined in January, raising concerns about the economic growth trajectory. Inflation has also proved to be sticky with Consumer Price Index data from January showing a 3% increase, above economist forecasts.
Tariffs could put further pressure on CPI measures as tariffs tend to increase costs. Canada, Mexico and China have also said they …
