Higher rates of the US

On Wednesday afternoon, Trump said: “I think the growth will not be preceded,” and added that the United States was “receiving hundreds of billions of dollars in rates.” But he said he could not provide a specific figure for income because “we don’t even know what the final number is” with respect to rates rates.

Despite the uncertainty, Trump’s White House relies that the beginning of its wide tariffs will provide clarity on the world’s largest economy. Now that companies understand the direction in which the United States is directed, the Administration believes that it can increase new investments and accelerate hiring so that it can rebalance the economy of the United States as a manufacturing power.

But so far, there are signs of self -inflicted wounds to the United States and companies and consumers, both for the impact of new taxes. What the data has demonstrated is an American economy that changed in April with the initial deployment of tariffs of the president, an event that led to the market drama, a negotiation period and the final decision of Mr. Trump to begin his universal tariffs on Thursday.

After April, the economic reports showed that hiring began to stop, inflationary pressures rose up and the values of the houses in the key markets began to decrease, said John Silvia, CEO of Dynamic Economy Strategy.

“A less productive economy requires fewer workers,” Silvia said in an analysis note. “But there are more, the highest tariff prices lower real wages. The economy has become less productive, and companies cannot pay the same real salaries as before. Actions have consequences.”

Even then, the final transformations of the rates are unknown and could develop for months, if not years. Many economists say that the risk is that the American economy constantly erodes instead of collapsing instantly.

“We all want it to be done for television where this explosion is, it is not so,” said Brad Jensen, professor at Georgetown University. “It will be a fine sand in the gears and slow down.”

Trump has promoted tariffs as a way to reduce persistent trade deficit. But the importers sought to avoid taxes importing more goods before taxes came into force. As a result, the commercial imbalance of $ 582.7 billion for the first half of the year was 38% higher than in 2024. The total expenditure under construction has decreased 2.9% during the past year, and the factory work promised by Mr. Trump so far have been the loss of jobs.

The period prior to Thursday was adjusted to the nature of Slapdash of the tariffs of Mr. Trump, which have been deployed, retreated, delayed, increased, imposed by letter and renegotiated frantically.

The process has been so confused that the officials of the key commercial partners were not clear at the beginning of the week if the rates would begin on Thursday or Friday. The language of the order of July 31 to delay the beginning of the tariffs as of August 1 said that the highest tax rates would begin in seven days.

On Wednesday morning, Kevin Hasset, director of the National Economic Council of the White House, was asked if the new tariffs began at midnight on Thursday, and said that journalists should consult with the office of the United States commercial representative.

Mr. Trump announced additional 25% tariffs that will be imposed on India Wednesday because it buys Russian oil, carrying the total import taxes of India at 50%. The Indian Foreign Ministry described the new “unfair, unjustified and irrational” duties.

Mr. Trump has said that import taxes are still Coming pharmaceutical drugs and announced 100% tariffs on computer chipswhich means that the American economy could remain in a place of suspended animation, since it awaits the impacts.

The use of the president of a 1977 law to declare an economic emergency to impose tariffs is also being challenged. The imminent ruling of the hearing last week before an United States Court of Appeals could make Trump find other legal justifications if the judges say he exceeded his authority.

Even the people who worked with Mr. Trump during his first term are skeptical that things will go without problems for the economy, such as Paul Ryan, the former president of the Republican Chamber, who has become a Trump critic.

“There is no justification for this other than the president who wants to increase tariffs based on his whims, his opinions,” Ryan told CNBC on Wednesday. “I think the chopped waters are ahead because I think they will have some legal challenges.”

Even so, the stock market has been solid during the recent tariff drama, with the S&P 500 index rising more than 25% since its April minimum. The market bounce and Income tax cuts in Trump tax measures and expenses Signed by law on July 4 has given the confidence of the White House that economic growth is intended to accelerate in the coming months.

From now on, the president says he still foresees an economic boom, while the rest of the world and American voters expect nervously.

“There is a person who can afford to be arrogant about the uncertainty he is creating, and that is Donald Trump,” said Rachel West, a senior fellow of the Century Foundation who worked at the White House Biden on labor policy. “The rest of the Americans are already paying the price for that uncertainty.”