CHEAT SHEET: Economic professor details how tariffs raise the price of foreign goods
Throughout his 2024 presidential campaign to take back the White House, President Donald Trump outlined how tariffs would be used in his economic goals as well as his political ones. While on the campaign trail, Trump promised to put 60% tariffs on goods being imported from China, and 10% tariffs on goods from all other foreign countries. Elon professor Brandon Sheridan has provided an insight on how tariffs affect consumers and the price of their goods, how tariffs have been used in the past and how retaliatory tariffs may affect consumers.