by Michael Snyder, The Economic Collapse Blog:
When you don’t have enough money to pay the bills, it can make for a lot of sleepless nights. If you are in that position right now, I want you to know that you are definitely not alone. I have heard from so many people that are being absolutely crushed by our ongoing cost of living crisis that seems to have no end in sight. Just about everything has become substantially more expensive over the past five years, and now the global trade war threatens to push prices for foreign-made goods into the stratosphere.
TRUTH LIVES on at https://sgtreport.tv/
What we are experiencing at this moment is not even close to normal. According to a new survey that was just released, financial stress is at an all-time high for 70 percent of Americans…
Americans are drowning in money worries, and it’s taking a serious toll on their mental health. A new survey reveals that 70% of Americans say their financial stress has hit an all-time high, with more than three-quarters feeling totally alone in their struggle to manage money pressures.
Even worse, this financial strain is affecting people’s overall well-being, with 20% reporting worse mental health over the past year.
The findings come from a nationwide poll of 2,000 people conducted by Talker Research for Doctor On Demand by Included Health, offering a troubling glimpse into how economic pressures are reshaping Americans’ relationship with both mental and physical health.
If 70 percent of your population is more financially stressed than they have ever been before, you have a national crisis on your hands.
Nobody can argue with that.
The wealthiest 10 percent of the country is doing just fine, but almost everyone else is really struggling right now.
Unfortunately, the cost of living crisis is about to go to an entirely new level.
According to CNBC, the very first container ships from China that are subject to the 145 percent tariff rate that was recently introduced are now arriving at U.S. ports…
The first shipping containers carrying Chinese products that are subject to President Donald Trump’s 145% tariffs have begun arriving in U.S. ports.
Seven ships carrying upward of 12,000 containers that sailed from China after those tariffs took effect have arrived at the ports of Los Angeles and Long Beach, in California. Five more such ships are scheduled to arrive there in coming days.
Amazon, Home Depot, Ikea, Ralph Lauren and Tractor Supply are among the companies with Chinese goods in these containers, spanning a wide range of consumer items.
The next time you walk into Walmart, Target or Home Depot, you may be shocked at the price hikes that you are seeing.
The good news is that the U.S. and China will be talking this weekend.
Let us hope those negotiations go well.
On Truth Social, President Trump just suggested that negotiations could potentially lead to a final tariff rate of 80 percent on Chinese goods…
President Donald Trump on Friday set negotiating terms for his administration’s first discussions with China, which are set to take place in Geneva this weekend.
In a series of posts on Truth Social, Trump appeared to lay out his demands — and concessions — for the meeting between US Treasury Secretary Scott Bessent, US Trade Representative Jamieson Greer and their Chinese counterparts. Trump said China must import more US goods, and in return, he believes the United States should lower its 145% tariff on most Chinese goods to 80%.
Other government sources are indicating that we could see the tariff rate on Chinese goods lowered to about 50 percent…
Specifically, US officials are discussing a proposal to lower President Trump’s punishing levy on China goods to between 50% and 54% as they begin what promise to be lengthy talks to hammer out a trade agreement, sources close to the negotiations said.
Meanwhile, trade taxes on neighboring south Asian countries would be cut to 25%, the source added.
“They are going to be bringing it down to 50% while the negotiations are ongoing,” the source said of the trade tax on China.
Personally, I don’t think that the Chinese will agree to any deal that includes a very high tariff rate on Chinese-made products.
But for a moment let’s assume that the Trump administration actually gets what they want.
Read More @ TheEconomicCollapseBlog.com
