American media: More American enterprises are beginning to feel the "painful impact" of the tariff stick.
The Washington Post website recently published an article saying that starting this week, more American companies are beginning to feel the "painful repercussions" of tariffs. The article states that for many Americans, President Trump's tariff policy may seem cost-free, but in reality, the chain reaction of tariffs on the economy takes time to manifest. However, this week, the illusion of "cost-free" seems to be dissipating - new data shows that American companies are beginning to feel the "painful repercussions." The article mentions that although Trump has postponed the deadline for implementing tariffs, he has not exempted the already imposed 10% overall tariffs, nor has he canceled the tariffs on specific goods such as steel and aluminum. Data released this month shows that these tariffs have begun to harm the economy: the cost of importing "input factors" is skyrocketing. Between January and May of this year, the average price of imported steel and aluminum rose by nearly 30%, with approximately half of the aluminum and a quarter of the steel used domestically relying on imports. At the same time, the prices of textile raw materials, leather, rubber, and plastic products have also seen significant increases - which are leading indicators of future price hikes. Therefore, Trump's tariff policy not only failed to protect American companies but also seems to be impacting these industries - especially the American automotive manufacturing industry and other related industries that heavily rely on overseas supply chains.
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