From Yahoo Finance: 2025-04-18 21:00:00

Nicholas Gilbert, a dairy farmer in upstate New York, was hit with a $2,200 tariff on cow feed from Ontario, leading to shock and frustration. He mistakenly thought foreign exporters would pay tariffs, but U.S. Customs imposed the charges directly on him, impacting his business and future purchases.

Amid Trump’s trade war, industries like manufacturing and construction are feeling the squeeze of rising costs. The average family is expected to pay an extra $3,800 a year for essentials like groceries, clothing, furniture, and cars. Experts warn of recession risks as prices climb and consumers face financial strain.

As tariffs continue to impact American businesses and consumers, economists warn of potential recession risks. With costs rising across various industries, the impact is felt on everyday purchases like groceries, clothing, furniture, and cars. The looming threat of a recession is a cause for concern as prices climb higher.

Read more: New York farmer in disbelief at Trump tariffs imposed on critical cow feed