A tariff primer

From the Economic Policy Institute:

During his presidential campaign, President Trump pledged to impose universal tariffs of 10–60% on all U.S. imports—a whopping $4.2 trillion in goods and services purchased from abroad in 2024. This was always a real possibility. The International Economic Emergency Powers Act gives the president broad authority to do so. In early February the Trump administration seemed to be making good on the threat…

Read about the pro’s and con’s of tariffs here.