Trump’s tariff storm turned into an immediate consumer-tax headache
Trump’s new tariffs on Canada, Mexico, and China took effect on February 4 and immediately kicked off the kind of market, price, and retaliation panic the White House said would never happen. The administration framed the move as border and security policy, but trading partners were already preparing countermeasures and U.S. businesses were warning about higher costs. Even before the policy had time to settle, it looked less like leverage and more like a self-imposed tax with a flag on it.