California consumers, business owners brace for Trump tariff fallout
President Donald Trump has postponed 25% tariffs on many imports from Mexico and some imports from Canada for a month amid widespread fears of the economic fallout from a broader trade war. The threat of tariff's caused the stock market to crash, with the Nasdaq entering correction territory, closing 10 percent lower than its high in December. This comes as economists warned that the tariffs and trade war could plunge our economy into recession.
Across California, consumers and small business owners are bracing for higher prices to cover the cost of those tariffs.
For more on the potential impact of all this on the California economy, KCBS Political reporter Doug Sovern, along with KCBS Radio news anchors Patti Reising and Bret Burkhart, spoke with Caroline CHen, associate professor of Accounting and Finance at San Jose State’s Lucas College and the Graduate School of Business.
Across California, consumers and small business owners are bracing for higher prices to cover the cost of those tariffs.
For more on the potential impact of all this on the California economy, KCBS Political reporter Doug Sovern, along with KCBS Radio news anchors Patti Reising and Bret Burkhart, spoke with Caroline CHen, associate professor of Accounting and Finance at San Jose State’s Lucas College and the Graduate School of Business.
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