Americans nearing retirement and recent retirees said they were anxious and frustrated following a second day of market turmoil that hit their 401(k)s after President Donald Trump’s escalation of tariffs. <a href=https://kra-30.cc>kra30.cc</a> As the impending tariffs shook the global economy Friday, people who were planning on their retirement accounts to carry them through their golden years said the economic chaos was hitting too close to home. <a href=https://kra--29-cc.ru>kra30 at</a> Some said they are pausing big-ticket purchases and reconsidering home renovations, while others said they fear their quality of life will be adversely affected by all the turmoil. “I’m just kind of stunned, and with so much money in the market, we just sort of have to hope we have enough time to recover,” said Paula, 68, a former occupational health professional in New Jersey who retired three years ago. Paula, who spoke on the condition of anonymity because she feared retaliation for speaking out against Trump administration policies, said she was worried about what lies ahead. https://kra16x.cc “What we’ve been doing is trying to enjoy the time that we have, but you want to be able to make it last,” Paula said Friday. “I have no confidence here.” Trump fulfilled his campaign promise this week to unleash sweeping tariffs, including on the United States’ largest trading partners, in a move that has sparked fears of a global trade war. The decision sent the stock market spinning. On Friday afternoon, the broad-based S&P 500 closed down 6%, the tech-heavy Nasdaq dropped 5.8%, and the Dow Jones Industrial Average fell more than 2,200 points, or about 5.5%.

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Today was supposed to be the day that President Donald Trump’s so-called “reciprocal” tariffs on dozens of countries kicked in after a three-month delay, absent trade deals. But their introduction has been postponed, again. The new, August 1 deadline prolongs uncertainty for businesses but also gives America’s trading partners more time to strike trade deals with the United States, avoiding the hefty levies. <a href=https://kra34g.cc>kra cc</a> Mainstream economists would probably cheer that outcome. Most have long disliked tariffs and can point to research showing they harm the countries that impose them, including the workers and consumers in those economies. And although they also recognize the problems free trade can create, high tariffs are rarely seen as the solution. https://kra34g.cc kraken даркнет Trump’s tariffs so far have not meaningfully boosted US inflation, slowed the economy or hurt jobs growth. Inflation is “the dog that didn’t bark,” Treasury Secretary Scott Bessent likes to say. But economists argue inflation and jobs will have a delayed reaction to tariffs that could start to get ugly toward the end of the year, and that the current calm before the impending storm has provided the administration with a false sense of security. “The positives (of free trade) outweigh the negatives, even in rich countries,” Antonio Fatas, an economics professor at business school INSEAD, told CNN. “I think in the US, the country has benefited from being open, Europe has benefited from being open.” Consumers lose out Tariffs are taxes on imports and their most direct typical effect is to drive up costs for producers and prices for consumers. Around half of all US imports are purchases of so-called intermediate products, needed to make finished American goods, according to data from the Organisation for Economic Co-operation and Development. “If you look at a Boeing aircraft, or an automobile manufactured in the US or Canada… it’s really internationally sourced,” Doug Irwin, an economics professor at Dartmouth College, said on the EconTalk podcast in May. And when American businesses have to pay more for imported components, it raises their costs, he added. Likewise, tariffs raise the cost of finished foreign goods for their American importers. “Then they have to pass that on to consumers in most instances, because they don’t have deep pockets where they can just absorb a 10 or 20 or 30% tariff,” Irwin said.