President Trump is imposing sweeping tariffs on Canada, Mexico, and China, citing fentanyl smuggling as the reason. However, his public statements suggest other motivations, such as trade deficits and a desire to renegotiate trade deals. Economists interviewed by NPR debate the impact of these tariffs on American businesses, consumers, and the overall economy.
President Trump wants to impose sweeping tariffs on Canada , Mexico and China. NPR's Steve Inskeep spoke with two economists who unpack the repercussions for American businesses, consumers and the U.S. economy.President Trump speaks to reporters next to Air Force One after arriving back at Joint Base Andrews, Md., Sunday, Feb. 2, 2025.President Trump 's tariffs on Mexico, Canada and China have an official rationale: the failure to stop fentanyl smuggling into the United States.
Now, we could certainly find people who favor tariffs in certain situations. Morici, for example, strongly favors the tariffs on China, because he says they are"trading unfairly." Some manufacturers favor tariffs for their specific industries. And it's also true that the U.S. once used tariffs as a tool to protect and encourage domestic industry.It should be no surprise that Trump has imposed tariffs now, because he spoke of them so much during the campaign.
During our inauguration coverage, NPR's Mara Liasson observed faith in tariffs is among the president's core beliefs. He just wants to do them. Trump has spoken of further taxes on imports from the European Union and even the UK.
TARIFFS TRUMP CANADA MEXICO CHINA TRADE ECONOMICS PROTECTIONISM
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