Donald Trump is betting that tariffs rather than sanctions will fix economic and geopolitical imbalances. But does the threat of rising US inflation and retaliation make sanctions a safer choice?

The levies, which are scheduled to take effect Aug. 1, would dramatically escalate U.S. tariff policy and threaten to hike prices for everyday goods ranging from coffee to shoes. Trump delayed the so-called "reciprocal tariffs" in April,

The company indicated that it expected to take a nearly $350 million hit from net tariffs that occurred in the first quarter alone, and warned that figure could grow to around $1.75 billion for the full fiscal year.