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Donald Trump favours huge new tariffs. What are they, how do they work?

By Economic Times - 2 months ago
Donald Trump proposes hefty tariffs on foreign goods to boost American jobs, reduce the federal deficit, and lower food prices. He suggests a 60% tariff on Chinese imports and up to 20% on others. Economists warn these measures could harm the US economy and raise inflation. The Biden administration also maintains some tariffs from Trump's tenure.

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