Trump Imposes Tariffs on Canada, Mexico and China, Raising Prospect of Higher Costs

Contributing sentiments towards policy:

66% : "We were the richest country in the world," Trump said Friday.
55% : With the tariffs, Trump is honoring promises that are at the core of his economic and national security philosophy.
53% : While she has emphasized the ongoing dialogue since Trump first floated the tariffs in November, she has said that Mexico is ready to respond, too. Mexico has a "Plan A, Plan B, Plan C for what the United States government decides," she said.
47% : Trump has said that the government should raise more of its revenues from tariffs, as it did before the income tax became part of the Constitution in 1913.
46% : " Brad Setser, a senior fellow at the Council on Foreign Relations, noted on the social media site X that the tariffs "if sustained, would be a massive shock -- a much bigger move in one weekend than all the trade action that Trump took in his first term.
46% : " Setser noted that the tariffs on China without exemptions could raise the price of iPhones, which would test just how much power corporate America has with Trump.
38% : It is unclear how the tariffs could affect the business investments that Trump said would happen because of his plans to cut corporate tax rates and remove regulations.
37% : Trump declared an economic emergency in order to place duties of 10% on all imports from China and 25% on imports from Mexico and Canada -- America's largest trading partners -- except for a 10% rate on Canadian energy, including oil, natural gas and electricity.
32% : Many voters turned to Trump in the November election on the belief that he could better handle the inflation that spiked under Democratic President Joe Biden.
28% : Trump still has to get a budget, tax cuts and an increase to the government's legal borrowing authority through Congress.
21% : The order signed by Trump contained no mechanism for granting exceptions, the official said, a possible blow to homebuilders who rely on Canadian lumber as well as farmers, automakers and other industries.
16% : That's a sign the White House understood as outside economists have warned that the import taxes if sustained could dramatically increase inflation, a possible problem for Trump as he promised to tame inflation after public unhappiness with price spikes under former President Joe Biden.

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