Trump tariffs could hike prices for many products, including these items
CBSN
Prices could rise on a variety of goods shipped to the U.S. from overseas under tariffs that President-elect Donald Trump has threatened to impose as soon as he takes office next year, according to experts.
Trump on Monday pledged to put a 25% tariff on all products from Mexico and Canada, along with a 10% levy on Chinese goods, in an effort to crack down on illegal immigration and drugs flowing into the U.S. The tariffs are not certain to go into effect, while if they are implemented their impact would depend on how they are structured and if certain categories are exempted.
Trump and his allies, including his choice for Treasury Secretary, Scott Bessent, have argued that his first-term tariffs didn't boost inflation, and that import taxes can provide valuable benefits to American workers and businesses. Among them, Trump has said, are protecting U.S. manufacturing jobs and boosting federal revenue, although tariffs are paid by importers and often passed onto consumers in the form of higher prices.
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