US Tariff could spark recession and increase Inflation

US experts on finance warned that tariffs could backfire, and they might increase inflation in the US and impact US citizen purchasing power. Many experts are still assessing the impact of the US tariff on their own citizens, and they fear that, instead of increasing domestic consumption, it could very well increase inflation in the US, and also, many US citizens might be laid off in other countries due to recession fears and global meltdown. 

Moreover, one of the US experts said that a Vietnam shirt costs $2 and a locally made one in the US costs $20. So who will purchase these items? He said that people will purchase Vietnam-made shirts even after the tariff, and to mitigate Vietnam's loss, they will lay off American employees, which will only impact US citizens. Many experts fear that the cost of IT products and cell phones could increase by up to 50% due to the US president's tariff announcement, and it could spark global inflation. 

Additionally, China is facing massive tariffs from the US. All together, China is almost a 67% tariff now for exporting its products to the US, which has sparked a massive increase in computer, laptops, cell phone, and even car prices that could touch the roof, which impacts US citizen purchasing as well. US experts say that overall it will have a negative impact on US purchasing power, as these cheap products from China have enabled US citizens to buy cheap products; however, now it seems that overall the impact on US citizens will be negative, and their purchasing power will be affected badly. 

It is expected that many brands (electronics, cars, etc.) will now be thinking of increasing the prices of their products to mitigate their loss and shift the prices to the consumer, which is a normal and common approach of any business to survive and secure revenue.