Hey there! Have you heard about tariffs? 🤔 They’re like taxes that one country puts on products from another country. Right now, the United States is adding a lot of tariffs on goods. But some smart people think this might be causing big problems!
What’s the big deal? 🧐 According to a study by Yale University, these tariffs could cost every American family about $4,900 each year! That’s a lot of comic books, video games, or ice cream cones! 🍦
Jobs could be in trouble too. 💼 The same study says that by 2025, over 770,000 people might lose their jobs because of these tariffs. That’s like if a whole city of people didn’t have work!
Wait, there’s more! 😮 Another group called the Peterson Institute for International Economics thinks there’s a 40% chance the US could have a recession next year. A recession is when the economy isn’t doing well, and people buy less stuff.
Important people are concerned. 🏛️ Jerome Powell, the head of the US Federal Reserve (they help keep the economy stable), says that tariffs are making prices go up and growth slow down. Janet Yellen, who used to be in charge of the US Treasury, wonders if businesses will want to invest when things are so uncertain.
Why should you care? 🤔 Well, if the economy slows down, it could affect your family, your school, and your community. Prices might go up, and there might be fewer jobs when you grow up.
What can we do? 🌟 Stay informed! Ask questions and learn about how economies work. Maybe one day, you’ll come up with solutions to make things better! 📚
Reference(s):
cgtn.com
