Donald Trump favours huge new tariffs. What are they, how do they work?

  • Posted on September 27, 2024
  • By Business News Today
  • 5 Views
Donald Trump favours huge new tariffs. What are they, how do they work?

Donald Trump proposes hefty tariffs on foreign goods to boost American jobs, reduce the federal deficit, and lower food prices. He suggests a 60% tariff on Chinese imports and up to 20% on others. Economists warn these measures could harm the US economy and raise inflation. The Biden administration also maintains some tariffs from Trump's tenure.
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