Reported about 21 hours ago
President Trump has announced a 10% baseline tariff on all imports and increased rates on countries with trade surpluses with the U.S., fulfilling a campaign promise to reduce trade imbalances. Economists worry that these tariffs could lead to increased prices for consumers, as businesses may pass on costs, while some retailers might take advantage to raise prices unnecessarily. The tariffs, which are aimed at balancing international trade practices, are collected as taxes and contribute to the federal budget, where Congress decides their allocation.
Source: YAHOO