Trump’s tariffs threaten to end quarter-century era of cheap goods for U.S. consumers

WASHINGTON (AP) — President Donald Trump’s new tariffs threaten to push up prices on clothes, mobile phones, furniture and many other products in the coming months, possibly ending the era of cheap goods that Americans enjoyed for about a quarter-century before the pandemic.

In return, White House officials hope the import taxes create more high-paying manufacturing jobs by bringing production back to the United States. It is a politically risky trade-off that could take years to materialize...