Economists broadly dislike tariffs, saying they tend to increase prices for consumers — a likelihood that many company executives are already warning of. Small-business owners who weathered Trump’s first round of levies told NBC News last month that they’d struggled to adapt, with many describing limited options for absorbing cost hikes compared with larger rivals. The new slate of tariffs Trump calls for would be much steeper and more far-reaching if fully implemented.
“In his first term, President Trump instituted tariffs against China that created jobs, spurred investment and resulted in no inflation,” Trump transition spokeswoman Karoline Leavitt said in a statement. “President Trump will work quickly to fix and restore an economy that puts American workers [first] by re-shoring American jobs, lowering inflation, raising real wages, lowering taxes, cutting regulations,…
