India, April 4 -- Americans already stretched thin by high prices may soon feel a new wave of inflation, thanks to a fresh set of tariffs announced by President Donald Trump on April 2 - a day he dubbed 'Liberation Day.' Trump says the measures are designed to fix America's trade imbalances, but experts caution they'll have a more immediate and direct effect: making everyday goods more expensive for consumers.

While Trump has claimed that tariffs are costs borne by other nations, the truth is that these charges are paid by U.S. importers - major retailers like Walmart or Amazon.

"Americans will likely have to pay more at the supermarket counter within the coming days while higher prices on everything from sneakers to furniture to cars c...