In a surprising move, President Trump announced a new set of tariffs set to go into effect tomorrow, leaving many industries and consumers concerned about the potential impact. The tariffs, which are aimed at certain US exports, have caused fluctuations in stock markets and raised fears of a trade war with major trading partners.

According to a CBS News price tracker, the new tariffs could lead to increases in the cost of goods ranging from electronics to food items. The effects of these tariffs have already been felt in the stock market, with the Dow Jones Industrial Average experiencing a significant drop in response.

MarketWatch reports that the tariffs are expected to hit a number of US industries, including agriculture and manufacturing, with some companies facing tariffs as high as 25%. This has raised questions about the long-term effects on American businesses and consumers.

With the new tariffs set to go into effect soon, many are left wondering how this will impact the US economy and its relationships with other countries. Stay tuned for updates on this developing story.