Consumers pay for tariffs with higher prices

Consumers pay for tariffs with higher prices

There is an old adage I like that says, "Be careful what you ask for. You might get it!" We elected President Trump and he is doing exactly what he said he would do. So, lets talk about tariffs and some history. In the country's early days, the tariff was the main method of funding the government. And since we were a young country, we didn't make much of what we needed. In 1824, Congress passed what came to be called the Tariff of Abominations. …

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As radical increases in US tariffs begin to redefine the country’s trading relationships, American consumers are getting a crash course in how taxes on imports work. Here are the basics.

How American consumers will be ‘hammered’ by tariffs: Tom Foreman explains

CNN correspondent Tom Foreman heads to the Magic Wall to explain how tariffs work, who pays for them and what products will become more expensive for consumers.

How will the tariffs affect the prices of consumer electronics?

Trump’s new tariffs could bump up prices on gadgets and bikes. US manufacturing might feel the impact, and shoppers could pay more soon.