NJ companies worry consumers will spend less due to fear of Trump's tariffs

Business and Finance Business and Finance

Fri, February 7, 2025

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NJ companies worry consumers will spend less due to fear of Trump's tariffs

^{Published on 2025-02-06 20:20:57 - MSN}

Economic uncertainty can lead to an economic slowdown, as people pull back on spending, worried about higher prices, experts say

The article from MSN discusses concerns among New Jersey companies about potential reductions in consumer spending due to former President Donald Trump's proposed tariffs. Trump has suggested implementing a 10% tariff on all imports and a 60% tariff on Chinese goods if he were to return to office. These tariffs could lead to higher prices for consumers, potentially causing them to cut back on spending. This fear stems from the belief that increased costs would reduce disposable income, thereby affecting local businesses. The article highlights the anxiety within the business community, particularly in sectors like retail and manufacturing, where the impact of tariffs could be most directly felt. Additionally, there's mention of the broader economic implications, including potential retaliation from trade partners and the overall effect on the U.S. economy.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/other/nj-companies-worry-consumers-will-spend-less-due-to-fear-of-trump-s-tariffs/ar-AA1yvQwC ]

N@N

NJ companies worry consumers will spend less due to fear of Trump's tariffs