Kansas Reflector: Experts Doubt Trump’s Tariff Plans Will Lower Prices as Promised

President-elect Donald Trump has promised to lower prices on groceries, rent, and other necessities, but experts are concerned about the impact of his proposed tariffs on imports. Trump has threatened new tariffs on Mexico, Canada, and China, with rates as high as 25% for goods from the first two countries, and an additional 10% on Chinese products. Economists warn that these tariffs could lead to higher prices on cars, appliances, and technology, hurting American consumers. Additionally, concerns about inflation are raised, as the tighter labor market may lead to increased goods inflation under the Trump administration. Past tariffs imposed by Trump have led to retaliatory actions from other countries and negative effects on GDP and employment. Companies like Columbia Sportswear and AutoZone have already announced plans to raise prices in anticipation of these tariffs. Economists emphasize the potential negative impact on American families and the economy as a whole if Trump’s proposed tariffs are implemented.

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