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February 13, 2025, Washington, District Of Columbia, USA: President DONALD TRUMP speaking at a press conference at the White House in Washington, D.

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Trumps tariff policies do not appear to have a coherent objective in mind, he told GOBankingRates.

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Such policies can only be described as reckless.

Heres why Magness believes Trumps tariffs could negativelyimpact your wallet and the wider economy.

That means automobiles, appliances and hundreds of other everyday consumer goods will now cost more due to tariffs.

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An Erratic Stock Market

Tariffs have caused rapid market swings, which could negatively impact investors.

Every time Trump tweets about a new tariff, the markets nosedive in response.

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