Indeed, just about everywhere O’Ward goes,

are taxes on goods imported from other countries. Companies buying foreign products pay the tariffs imposed on them — and, as a result, face higher costs that are typically passed on to customers.Trump has argued tariffs will protect U.S. industries from unfair foreign competition and raise money for the federal government. But since so much of what we buy today relies on a global supply chain, steeper tariffs mean you’ll likely see more expensive prices from

Riegelmann’s Appliance employee Noah Guillen helps Dave Scherer, right, as he shops for a refrigerator, in Gresham, Ore., Thursday, April 3, 2025. (AP Photo/Jenny Kane)Riegelmann’s Appliance employee Noah Guillen helps Dave Scherer, right, as he shops for a refrigerator, in Gresham, Ore., Thursday, April 3, 2025. (AP Photo/Jenny Kane)“It is going to affect everything in the economy,” said Josh Stillwagon, an associate professor of economics and chair of the Economics Division at Babson College. “There’s this immediate price increase that’s going to be passed on to consumers here, basically as soon as the retailers have to buy new product.”

No. Experts warn that these tariffs could escalate inequities. Low-income familieswill feel the costs of key necessities, like food and energy, rise with fewer savings to draw on — significantly straining budgets.

Low-income households often “spend a larger share of their income on essential goods — whether it’s food or other basic products ... (like) soap or toothpaste,” said Gustavo Flores-Macías, a professor of government and public policy at Cornell University whose research focuses on economic development. Because of this, he said, “even relatively small price increases” will have disproportionate impacts.

Evidence of that disparity will only mount for big-ticket items. Dipanjan Chatterjee, vice president and principal analyst at Forrester, points to now-imposedChina remains a key concern for the package delivery company. Many of the small businesses that UPS deals with rely on China for their goods. There is a universal tariff of 10% for imports to the U.S., but tariffs on imports from China are as high as 145%.

“It’s China that’s the real uncertainty, I think, facing the economy,” said CEO Carol Tome, in a conference call with analysts.The rest of the world at 10% tariffs is manageable, she said.

Sherwin-Williams said it expects demand to remain choppy at least through the first half of the year.The paint maker reaffirmed its earnings forecast for the year. It said about 80% of is revenue is in the U.S. and the “vast majority” of its raw materials are sourced in the region where it makes its products. That leaves it less exposed to tariff impacts.