President-elect Trump is vowing he will impose new tariffs on Canada, China and Mexico, which are the country's three biggest trade partners. NBC News' Christine Romans breaks it all down for us. Also, NBC News' Vaughn Hillyard and Washington Post national editor Philip Rucker join Ana Cabrera to discuss.
President-elect Donald Trump’s announcement that he plans to impose 25% tariffs on all goods imported from Canada and Mexico, and an extra 10% on all Chinese goods on top of existing tariffs, has all the hallmarks of a classic Trump policy proclamation. He considers it a brilliant stratagem, while in reality it’s a terrible idea that he may not even enact. And what he does plan to do may be even worse. This is an economic story with serious real-world consequences, few of them good.
And who found favor with the Trump administration? According to one study, companies that had donated to Republican candidates were more likely to get their exemption requests approved; one of the researchers called it “a very effective spoils system.” While small businesses lacked the resources to file for exclusions, bigger corporations and their chief executives could expend the time and money necessary to claim carve-outs. Apple and its CEO, Tim Cook, offer an illustrative case study.
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