Trump’s New Tariffs Could Hit Your Bank Hard — Here’s What to Do Now

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President Donald Trump’s tariff hikes have already had a massive ripple effect across the global economy — and your bank account might feel it, too.Alert: highest cash back card we’ve seen now has 0% intro APR into 2026
This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!
Click here to read our full review for free and apply in just 2 minutes. The Federal Reserve expects to cut interest rates twice in the second half of 2025. But if the economy sinks into a recession, then the Fed may cut rates even more. That means savings account APYs could plummet before the year is out.If your money’s in a traditional savings account, you could already be earning as little as 0.01% APY. That’s a fraction of a penny per year for every dollar you deposit.With rate cuts on the horizon and the economy looking shaky, now is a better time than ever to open a high-yield savings account (HYSA).Why now is a smart time to switch to an HYSAThe best high-yield savings accounts are still paying APYs as high as about 4.50%. They’re also FDIC insured and easy to open, and they often come with zero monthly fees. Most importantly, they pay nine times more interest than the average bank — or more.If you’re worried about tariffs and economic uncertainty hurting your finances, switching to an HYSA is a simple way to take more control. You won’t just protect your money from shrinking returns; you’ll actively grow it.What to look for in an HYSAWhen shopping for a high-yield savings account, keep an eye on:APY: The higher, the better — but watch out for promotional rates that drop after a few months.Fees: The best HYSAs have no monthly fees, account minimums, or hidden charges.Access: Make sure the account offers easy transfers to and from your checking account and external accounts.Online banks can offer higher rates because they don’t have the overhead of physical branches — which could also help them weather cost hikes from tariffs better than traditional banks.What are you waiting for?The impact of Trump’s tariffs is still up in the air, but they’ve already raised big concerns about the U.S. economy and savings rates. Rather than wait and see how your bank reacts, get ahead of the curve by moving your savings to a high-yield account.Ready to make your money work harder for you? Check out our full list of the best HYSAs to open a new account today.Alert: highest cash back card we’ve seen now has 0% intro APR into 2026
This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!
Click here to read our full review for free and apply in just 2 minutes. We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
Motley Fool Money does not cover all offers on the market. Editorial content from Motley Fool Money is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.”}]] [[{“value”:”

President Donald Trump’s tariff hikes have already had a massive ripple effect across the global economy — and your bank account might feel it, too.

Alert: highest cash back card we’ve seen now has 0% intro APR into 2026

This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!

Click here to read our full review for free and apply in just 2 minutes.

The Federal Reserve expects to cut interest rates twice in the second half of 2025. But if the economy sinks into a recession, then the Fed may cut rates even more. That means savings account APYs could plummet before the year is out.

If your money’s in a traditional savings account, you could already be earning as little as 0.01% APY. That’s a fraction of a penny per year for every dollar you deposit.

With rate cuts on the horizon and the economy looking shaky, now is a better time than ever to open a high-yield savings account (HYSA).

Why now is a smart time to switch to an HYSA

The best high-yield savings accounts are still paying APYs as high as about 4.50%. They’re also FDIC insured and easy to open, and they often come with zero monthly fees. Most importantly, they pay nine times more interest than the average bank — or more.

If you’re worried about tariffs and economic uncertainty hurting your finances, switching to an HYSA is a simple way to take more control. You won’t just protect your money from shrinking returns; you’ll actively grow it.

What to look for in an HYSA

When shopping for a high-yield savings account, keep an eye on:

• APY: The higher, the better — but watch out for promotional rates that drop after a few months.
• Fees: The best HYSAs have no monthly fees, account minimums, or hidden charges.
• Access: Make sure the account offers easy transfers to and from your checking account and external accounts.

Online banks can offer higher rates because they don’t have the overhead of physical branches — which could also help them weather cost hikes from tariffs better than traditional banks.

What are you waiting for?

The impact of Trump’s tariffs is still up in the air, but they’ve already raised big concerns about the U.S. economy and savings rates. Rather than wait and see how your bank reacts, get ahead of the curve by moving your savings to a high-yield account.

Alert: highest cash back card we’ve seen now has 0% intro APR into 2026

This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!

Click here to read our full review for free and apply in just 2 minutes.

We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
Motley Fool Money does not cover all offers on the market. Editorial content from Motley Fool Money is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.

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