Trump Praises Tariffs, Taxes

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tariff

CBS News

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Who would pay for Trump's promised tariffs? You will!

Summary

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78% Informative

Frida Ghitis: Tariffs have been part of international trade since our country was founded; the first one was imposed by George Washington ! Ghitis says they often have unintended consequences: They can raise prices on imported stuff; they can affect the price of domestic substitutes.

Ghitis asks: What exactly is a tariff? It is a tax; who pays these tariffs?.

Studies say tariffs will cost 1% of all American jobs, raise average car prices by $ 3,000 .

But Trump 's transition leader Howard Lutnick predicts that his boss won't tax imported goods for which there are no American -made alternatives.

Doug Irwin: Tariffs can be used as a threat and a bargaining chip.

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informal

Language

English

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