JACKSONVILLE, Fla. – There is a saying I heard that seems apropos these days, “When America catches a cold, the rest of the world sneezes.”
It is a rather trite shorthand to describe how changes in the world’s biggest economy may ripple to affect everyone else around the globe.
America has a new tax on virtually every item that comes over its borders.
A 10% tariff went into effect this weekend after President Donald Trump signed an Executive Order requiring a baseline tax on all imports.
The worry is this is going to get very ugly. It sparked an outcry from America’s trading partners -- both our friends and foes -- and also from Americans, businesses, manufacturers and consumers.
Justin Begley, an economist with Moody Analytics, joined me on The Morning Show to discuss just how ugly things might get and the impact on world markets.