The Concern Over Tariffs

All around the world people are uneasy about the tariff talk that has been up in the air since President Trump announced a rise on tariffs for every country which we trade with. China is our 3rd top trade partner and one of the most influential countries where not only the average person purchases goods and wants from but large corporations as well. The tariffs which the United States have on China have now gone up to at least 145% which is a huge increase in such a little amount of time. This is leaving many people unsteady.

Thankfully, for other countries, there was an announced 90 pause on tariffs for all goods coming into our country. But do not sit back yet, this is surely not the end of the rise in prices for the average person. These rises in tariffs pose a threat to every single person in our country and are not something that should be taken lightly. The cost of living is projected to go up with these increases as expected, but does that mean that your income will come up too?

Not necessarily. This is what is frightening to many, lots of people may have to rethink their families' budgets when buying necessities such as groceries, prescriptions, gas, the cost of energy, and car parts. Soo many things will be affected and this is really something that should be watched closely to make sure that you understand the effects in can have on you.  

When looking at prescription prices, which I mentioned briefly earlier, this may be the most influential aspect of the tariffs for people who require medication to simply survive and live their day to day lives. Although many Americans have insurance which surely does help cover the cost of some drugs, this does not mean that more money won't be expected to come out of your pocket in order to pay for, in some cases, lifesaving medication, and just medication needed overall.

Even in the economy now people are struggling to gather up money to get these prescriptions, imagine how these people are going to feel when the prices only keep rising, what if they do not even have the money to afford an increase in drugs? Soon we will really see the effect that this will have on people's lives and honestly, I am scared to see how the prescription scene plays out for people who do not just have money laying around and are already living in a very tight situation now.

Another large part that is to be talked about is the cost of auto parts and cars themselves. Most people in our country rely on cars to get to places like work, school, and doctor's appointments. Just thinking about the cost of car maintenance now, a lot of people cannot even afford how much auto places are asking for to fix their car, and for foreign cars such as BMW whose parts are already spendy, prices are only expected to rise even more. This is something you may want to keep in mind if you plan on buying a new car in the near future. 

These are just a few examples of how things most Americans depend on should be watched closely for price increases within the year. There are so many more things that are said to be going up in our country and this is a time to save your money and make sure that you do everything in your power to provide for yourself and your family. Money really is one of the most important things in the world and these changes will highlight it greatly