President Trump’s aggressive tariff plan has caused uncertainty and concern among investors and business owners. The U.S. tariffs on imports are expected to rise to around 30%, the highest among advanced industrial countries.

U.S. President Donald Trump has put massive tariffs on imports from China. The Trump administration says the tariffs are part of an effort to bring manufacturing back to the U.S. Local family-owned businesses are concerned the tariffs could put them out of business.

The administration is implementing major shifts in economic policy, and trade is now at the center of it,” Powell said. “These changes are likely to push us further away from our goals.” He explained that the tariffs announced by Trump turned out to be significantly higher than expected — and the economic fallout will likely be just as steep,