Trump's Tariffs in Perspective
"There are few things that economists across the board can you agree on and the idea that tariffs are overall bad for economies is one of those things that almost all economists agree on.
In simplest terms, you know, international trade you know receiving goods all around the world increases the number of products consumers that can choose from in a cause of the cost to these products to decrease because companies have to compete, right. So what tariffs do is that it's essentially a tax on goods coming in from overseas, and what this does is it raises prices for consumers and basically on all goods.
And this can be, you know, bad for a variety of reasons. Again, it's another attack on the average American for the sake of protecting, you know, big business. But also as we've seen with China, it often results in retaliatory tariffs. So China now put tariffs on many American goods that our factories shipped overseas to China, and so that really hurt American companies as well."