Core Viewpoint - The article highlights that American consumers are likely to face significant price increases across a wide range of products, from automobiles to everyday items like shoes and bananas, due to government tariffs and inflationary pressures [2] Price Increases - Predictions from Yale University's Budget Lab indicate that prices for essential consumer goods will see substantial increases, with fresh produce expected to rise by 7% [2] - Footwear prices are projected to surge by 40%, while clothing costs may increase by 38% [2] - The average price of new cars could jump by $5,800, further straining household budgets already struggling with inflation [2] Impact of Tariffs - The article describes the U.S. government's tariffs as a heavy burden on consumer purchasing power, likening them to a poorly fitting and overpriced shoe that forces consumers to spend more [2] - The so-called "protective tariffs" are portrayed as detrimental to the wallets of ordinary citizens, with rising prices on shopping receipts serving as a tangible proof of the harm caused by the tariff war [2]

Group 1 - The U.S. President announced a 50% tariff on imported semi-finished copper products and copper-intensive derivatives, effective from August 1, which has a limited impact on India's exports to the U.S. valued at $360 million for FY2025 [1] - The Global Trade Research Institute (GTRI) stated that the tariff creates a level playing field among global suppliers, indicating that India is not likely to face specific disadvantages compared to other countries [1] - India is a net importer of copper, with total imports projected at $14.45 billion for FY2024-25, significantly exceeding its exports [1] Group 2 - India imports $288 million worth of scrap copper from the U.S., but this trade may become less feasible due to the disruption in bilateral copper trade channels [2] - The U.S. aims to reduce reliance on foreign copper resources through protective tariffs, while India imposes lower import tariffs on copper ore and concentrates [2] - The sudden 50% increase in input costs for copper is expected to impact industries such as electric vehicles, power grids, semiconductors, and defense electronics, potentially slowing production and hindering the U.S. clean energy transition [2]