How the New Tariffs Could Impact Your Wallet and What to Do About It

If you've been following the news lately, you've probably heard about the sweeping new tariffs introduced by the Trump administration. With a 10% blanket tariff on all imports and much higher rates—up to 145% on goods from countries like China, it's no surprise that people are asking:

"What does this mean for me? My business? My investments?"

You're not alone in wondering. Whether you're managing a household budget, running a company, or trying to grow your savings, these changes could impact your financial picture in real ways. The good news? You're not powerless; you can stay one step ahead with a little perspective and planning.

What's Happening with Tariffs Right Now?

On April 5th, a 10% tariff was applied to all imports into the U.S., part of what the administration calls "Liberation Day Tariffs." That rate jumps even higher for specific countries like China, where goods now face up to a 145% import tax.

What does this mean practically?

• Everyday goods like clothes, electronics, and hou…