What Donald Trump's Tariffs Mean For American Wallets And Beyond

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4.4 • 4.3K Ratings

🗓️ 4 December 2024

⏱️ 41 minutes

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Summary

President-elect Donald Trump hasn't been shy about his love for tariffs. And now, he hopes to make good on campaign promises to implement them.

In practice, these tariffs could raise the prices of a variety of everyday goods including groceries. Economic issues like inflation led many voters to Trump. However, economists have raised concerns that this strategy could lead to another bump in inflation.

We unpack what these tariffs could mean for consumers and businesses and talk about how they'll affect the American and global economies.

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Transcript

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0:00.0	Support for this podcast and the following message come from the NPR Wine Club,
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0:12.3	you can learn more at NPRwineclub.org slash podcast.
0:16.0	Must be 21 or older to purchase.
0:25.9	Music or older to purchase. President-elect Trump hasn't been shy about his love of tariffs, and now he says he plans to
0:31.0	make good on campaign promises to implement them.
0:34.1	Trump's proposal includes a 25% tariff on goods from Canada and Mexico, plus an additional
0:39.4	10% onto existing tariffs on goods from China. The tariffs Trump placed on China during his first term
0:45.7	were continued by the Biden administration. Biden also levied additional tariffs and trade
0:50.7	restrictions on China during his term. These tariffs could raise the prices of a
0:54.9	variety of goods, including groceries and cars. Economic issues led many voters to Trump. However,
1:01.1	some economists have raised concerns that his tariff plan could lead to another bump in inflation.
1:06.2	To date, what these tariffs could mean for consumers and businesses and how they might affect
1:10.3	the economy
1:10.8	in the U.S. and globally. We'll also hear from one group urging the Trump administration for more
1:15.7	global tariffs. I'm Jen White. You're listening to the 1A podcast where we get to the heart of the story.
1:21.4	We'll be back with more in just a moment.
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