At the end of the day, the brunt of the tariffs will fall on US consumers, especially lower-income ones who rely on relatively inexpensive products from China. Now, Americans can expect longer wait times and higher prices, trade experts told CNN.

The president has backtracked repeatedly on his tariff policies, creating a whiplash with downsides and few clear benefits so far.

President Donald Trump’s sudden move to lower tariffs on goods from China to 30% from 145% has thrown a lifeline to America’s small businesses who were running low on inventory — and cash.