Trump favors huge new tariffs. What are they, and how do they work?
Former President Donald Trump has proposed a 60% tariff on goods from China and a 20% tariff on everything else the United States imports
By PAUL WISEMAN
Published - Sep 27, 2024, 06:12 AM ET
Last Updated - Dec 16, 2024, 06:51 PM EST
WASHINGTON (AP) — Donald Trump has identified what he sees as an all-purpose fix for what ails America: Slap huge new tariffs on foreign goods entering the United States.
The former president and current Republican nominee asserts that tariffs — basically import taxes — will create more factory jobs, shrink the federal deficit, lower food prices and allow the government to subsidize childcare.
He even says tariffs can promote world peace.
“Tariffs are the greatest thing ever invented,’’ Trump said this month in Flint, Michigan.
