1 day ago · President Donald Trump has made good on his campaign promise to impose tariffs on imports from the United States’ three largest supplier countries—Canada, China, and Mexico. Trump signed ...

21 hours ago · The rationale behind tariffs is straightforward: By making imports more expensive, tariffs make local goods comparatively cheaper and, at least in the short run, more competitive. Like other taxes, tariffs provide income that can be used to support local industries, fund public programs, or cover government expenditures.

1 day ago · President Trump’s new tariffs on goods from Canada, Mexico and China are likely to result in higher prices for lots of products, including computers, tequila and gas. By Danielle Kaye President ...

3 days ago · On a scale of one to seven, with seven being the most supportive of tariffs, Democrats gave Trump’s expected tariff policy a 2.1 level of support, on average, while Republicans gave it a 5. It’s generally accepted in economics that tariffs make both imports and domestically produced goods more expensive, and respondents tended to agree.

Jan 21, 2025 · Imposing tariffs on metals, for example, could benefit communities that rely on a local, domestically owned aluminium factory. It could also hurt communities that rely on producing and exporting things made with many foreign components, like cars – and that’s before other countries start retaliating with their own tariffs.

While higher tariffs can offer short-term benefits, such as protecting domestic industries and creating jobs, they can also lead to economic challenges in the long run, including higher consumer prices, reduced global trade, and retaliation from other countries.

Oct 15, 2024 · Rationales vary for the recent spate of tariffs, the study found, from protecting intellectual properties proactively to responding in retaliatory ways against rogue actors like Russia, subject to bans on oil imports and exports ever since its invasion of Ukraine.