Tyler Schipper, an economist and associate professor in the College of Arts and Sciences at the University of St. Thomas, spoke to KSTP-TV about the new tariffs announced by President Donald Trump.
From the story:
The wide-reaching impacts of the sweeping tariffs put in place by President Donald Trump could be felt in a matter of days, mainly in the form of price increases. Some economists expect a family of four to spend $7,200 more this year. ...
As for those retirement accounts, University of St. Thomas associate professor of economics Tyler Schipper says if the plan is to retire soon, it’s best to connect with a financial advisor to see if any short-term moves would be smart. But for those who have plenty of time before retirement, Schipper says to let the 401(k)s be.
Schipper says that most of the time, tariffs are used as a negotiating tool, and if they stick around, there will be wider and deeper impacts.
