Terms of Service with Clare Duffy What You Should Buy Before Trump’s Tariffs
Dec 17, 2024
Elisabeth Buchwald, an economics writer for CNN Business, shares her insight into the complexities of Trump's proposed tariffs. She discusses how these tariffs could raise prices on essential goods, from groceries to tech gadgets. Elisabeth warns consumers about potential inflation in the cost of e-bikes and appliances, urging them to be strategic about purchases before tariffs take effect. She also emphasizes the importance of avoiding panic buying and replacing worn items wisely.
AI Snips
Chapters
Transcript
Episode notes
Tariffs Explained
- Tariffs are taxes on imported goods, indirectly paid by consumers through increased prices.
- Almost no product is purely made in America, making tariffs pervasive.
Tariff Talk
- Discussions about tariffs are unusually prominent before Trump's inauguration due to his emphasis on them during his campaign.
- Trump's potential use of executive orders for tariffs adds to their significance.
Trump's Tariff Plans
- Trump has proposed significant tariffs: 60% on Chinese goods, 25% on Mexican and Canadian goods, and 10% on all imports.
- The actual implementation and levels remain uncertain.