What is a tariff and how does it work? Here’s what some experts say a tariff can cause

By Paris Barraza
Palm Springs Desert Sun in the Redding Record Searchlight
November 26, 2024
Category: Business & Politics
Region: United States, US West

President-elect Donald Trump plans to implement a 25% tariff on all products from Mexico and Canada to target drugs, particularly fentanyl, and illegal immigration… Trump’s announcement of his plans has spurred questions about what tariffs mean for American consumers, as well as the products that may face additional fees. Oil and “billions worth of wood and paper” are imported from Canada to America, USA TODAY reported. …Congress has the authority to make U.S. tariff policy, and the legislative branch usually set tariff rates before the 1930s… However, Congress has “delegated extensive tariff-setting authority to the President” for decades. Through certain statutes, the president can impose or adjust tariffs, such as adjusting tariffs on imports that threaten U.S. national security or raise tariff rates when the U.S. International Trade Commission finds that an import surge has injured an American industry, according to the Congressional Research Service.

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