The NPR Politics Podcast
Checking The Receipts On Trump's Tariff Proposal
Nov 26, 2024
President-elect Trump’s bold tariff proposals on imports from Canada, Mexico, and China spark heated discussions about economic consequences and political implications. The complexities of tariff authority are unraveled, showcasing the balance of power between Congress and the President. Experts discuss how these tariffs may impact U.S. businesses and international relations, particularly with Mexico and China. The episode reveals bipartisan concerns over economic uncertainty and the contentious relationship of trade policies with broader border issues.
13:21
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Quick takeaways
- Trump's proposed tariffs aim to address immigration and drug trafficking issues, though they may primarily burden U.S. consumers and businesses.
- The potential retaliatory measures from affected countries, particularly Mexico, could escalate trade tensions and complicate economic relations.
Deep dives
Understanding Tariffs
Tariffs are taxes imposed on imported goods, intended to influence trade dynamics. When President-elect Trump announced plans for tariffs on goods from Canada, Mexico, and China, he framed it as a method to compel those countries to address illegal immigration and drug trafficking into the United States. Despite his assertion that foreign exporters bear the cost, economists agree that the burden primarily falls on U.S. businesses and consumers. For instance, a proposed 25 percent tariff on guacamole from Mexico could significantly inflate prices ahead of key events like the Super Bowl.
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