President-elect Trump was president-elected because he promised Americans he'd fix the economy.

One plank of his platform, tariffs.

The word tariff properly used is a beautiful word.

A tariff is a tax on imported goods, so tariffs on China mean that things coming from China will cost more.

Usually, they'll cost you more.

Is more expensive good? Donald Trump is making a

genuinely interesting bet that you might decide it is. I'll give you a perfectly good example,

the minimum wage. And when the minimum wage goes up, most of us will end up paying more for things

like, you know, our hamburger or a dry cleaning. And yet most of us vote for a higher minimum wage because we think it's fair.

And I think that you have to sort of look at tariffs the same way.

Is that the people who are saying looking at Trump's plan and saying his plan means higher

cost for me are also saying, but there's also a question for fairness here.

Is it fair that I get cheaper prices on everything,

but communities that depended on the production of the products that are now made in China

are withering away and dying? Coming up on Today Explaint. Support for the show comes from Indeed.

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