Tariffs have featured prominently in recent news cycles.
Since taking office, President Donald Trump has threatened to impose new tariffs on Canada, Mexico, China, and other countries. They are essentially taxes implemented by governments on goods and services imported into the country and paid by importers.
The current administration is using this strategic tool to secure the border, combat drugs, and rectify unfair trade.
While market watchers brace for new trade announcements, economists are analyzing the data to debate whether Trump’s first term of levies ignited inflation and whether new tariffs could rekindle the inflation flame.
A plethora of economists and independent policy organizations have sounded the inflation alarm, warning that Trump’s tariffs will resuscitate inflation pressures….