U.S. Maintains Firm Stance on Tariffs Amid Consumer Impact

U.S. Trade Representative Jamieson Greer announced that tariff rates are largely finalized for over 60 trading partners following President Trump's recent executive order, with most imports facing a 10% tariff starting August 7. While some countries like South Korea, the EU, and Britain reached deals, others like Canada did not, with the U.S. imposing a 35% tariff on certain Canadian goods. Greer indicated that these rates are based on negotiations and potential concessions, and the overall impact on the economy remains uncertain.