What tariffs do and why economists don't like them
“The most beautiful word in the dictionary is tariff,” former President Donald Trump told the Economic Club of Chicago last week. “It’s my favorite word.”. The Republican candidate for president has spent the past few weeks floating ever higher proposals for raising surcharges on foreign goods entering the United States. He has called for a 20% blanket tariff on all imports, tariffs of at least 60% on products from China, 100% tariffs on nations that shift away from trading with the dollar, and a 2,000% tariff on vehicles built in Mexico.
GM 'paying careful attention' to presidential candidates' policies — especially tariffs
General Motors CEO Mary Barra said the automaker is closely watching the proposed policies of both U.S. presidential candidates in the days ahead of the Nov. 5 election because the outcome could have a dramatic impact on all automakers when it comes to tariffs — the costs imposed on items exported from other countries. Put simply: "Tariffs are not going anywhere. Depending on who wins office, the U.S. will either see much of the same, or...
Donald Trump's Plans to Fight Inflation Would Actually Make it Worse, Economists Say
Throughout his presidential campaign, former U.S. President Donald Trump has repeatedly promised that "inflation will vanish completely" if he is elected to a second term. Economists warn, however, that his policy proposals—higher tariffs on imported goods, the deportation of millions of migrant workers, and influencing Federal Reserve interest rate policies—would worsen inflation.
Illinois-based freight company official says tariffs are here to stay
(The Center Square) – In the wake of former President Donald Trump’s appearance at an economic forum in Chicago where he defended tariffs, a global freight insider doesn’t see any major impacts. Trump wants to impose a 60% tariff on all Chinese goods, and a “universal’’ tariff of 10% or 20% on everything else that enters the United States. He argues that tariffs protect American factory jobs from foreign competition and deliver a host of other benefits. ...