Tariffs, taxes imposed on imported goods, have been a cornerstone of U.S. trade policy, particularly under recent administrations. Their resurgence, notably during the Trump administration’s trade wars and continued under Biden, aims to protect domestic industries, address trade imbalances, and bolster national security. However, tariffs spark debate over their economic efficacy and broader societal impacts. While proponents argue they shield local jobs and industries, critics highlight increased consumer prices and strained global trade relations. This article explores the multifaceted effects of U.S. tariffs

The Supply Chain scenario was very volatile in 2022 internationally. Port disruptions, rail strikes, driver shortages, and other issues plagued it. According to industry analysts, supply networks might take up to 2-3 years to recover.

China, India, and Russia are the three largest wheat producers in the world. The United States is the fourth-largest wheat producer in the world. Wheat is the second most important grain that is cultivated in the United States, following corn. Wheat is one of the most demanding and useful food crops.

The rate of inflation has risen dramatically all over the world economy. As the world emerged from the pandemic, it saw a rapid increase in inflation, especially over the last year. According to the 12-month percentage change in the consumer price index, the monthly inflation rate for goods and services in the U.S. increased by 8.5% in July 2022, compared to July 2021.