Baltimore, MD - April 3, 2025 - President Donald Trump this week announced sweeping new tariffs, including a 10 percent tax on imports from all countries and higher tariff rates on dozens more.

Trump, in an announcement Wednesday, said the "reciprocal tariffs" are aimed to promote domestic manufacturing and narrow the gap with the tariffs the White House says other countries unfairly impose on American-made products.

However, many economists warn the action could mean Maryland consumers can expect to pay more for many necessities, such as food, clothing, and energy. And those impacts will be felt most severely by lower-income Americans, a new analysis from the Yale Budget Lab suggests.

The reciprocal tariffs, which range from 10 percent to 46 percent, are set to take effect April 9. The average tariff rate the United States charges would increase to roughly 22 percent from 2.5 percent in 2024, according to Olu Sonola, head of U.S. economic research at Fitch Ratings. That’s the highest tariff rate since 1909.... Read More: Pikesville Patch