According to reports, UBS Group AG Chief Economist Paul Donovan stated that Donald Trump’s decision to postpone tariff increases until August 1 might ease inflation for American consumers during the Christmas season.
Key highlights:
• Tariff delay aimed at reducing inflation for American shoppers.
• 10% tariff expected to impact inflation in July and August.
• Specific country-targeted duties may not affect retail prices during peak holiday shopping.
The development could have implications on the global economy and consumer spending during the festive period.
Source: Economic Times