It seems like Donald Trump was serious about those tariffs — he's already threatening to put new tariffs on goods from Canada, Mexico, and China as soon as he takes office. So what does that mean for Americans and for the economy? Plus the Department of Justice drops all federal charges against Trump before he's sworn into office.
Throughout the 2024 presidential race, Donald Trump made a series of bold claims about his love of trade tariffs and the magical results they would produce. The Republican struggled to understand the basics of the issue, and people who recognized reality tried valiantly to set him straight, but the GOP candidate nevertheless tried to sell voters on the idea that radical and consequential tariffs would work wonders.
But as the public and our trading partners digest his odd online missives, there are plenty of reasons for the public to care. First and foremost, Trump, who was elected at least in part because of voters’ frustrations with inflation and higher prices, is pursuing a policy that will lead to higher prices. Much of the produce Americans purchase, for example, comes from Mexico. New tariffs will mean paying more for fruits and vegetables at grocery stores.
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