In today’s society, there is a great deal of fear. In a world of quick, bite sized pieces of information that are cherry-picked to accumulate views, it is hard to decipher what is true, especially in regard to politics. It is challenging to determine, especially as a high schooler, the impact the different events publicized in the media will have in our lives.
As such, it is key to remember that, despite what social media may be telling us, there is always more to the story. One specific example that is a prevalent stressor for high school students, especially older ones who will soon be making more of their own purchases, is the recently implemented tariffs.
In a global economy that seems increasingly fraught, President Donald Trump’s decision to raise tariffs to unprecedented levels certainly ruffled a few feathers. The tariffs were implemented to reduce the reliance of the United States on other countries for production, and to decrease trade imbalances.
But how will it impact high school students? The macroeconomic issues are daunting, yes, but how will it affect today’s teens on a day-to-day basis?
According to the budget lab at Yale, at first, people will likely see increased prices, especially on daily items. One item in particular that will see an increase is clothing, as fabric and textiles were disproportionately affected by the tariffs.
Another noteworthy increase that is pertinent to all those students obtaining their driver’s license is the predicted jump in car prices. The 25% fee on imported vehicles is predicted to ramp up auto costs by thousands of dollars.
Overall, high school students may face daunting price increases, unfortunately coming right as they enter into the world as independent adults. However, despite how bleak the outlook seems, hopefully the tariff will reduce trade imbalance and overall improve the economy.