Listening to Trump and his supporters, Joe Biden must a major authority on foreign trade because his use of tariffs proves Trump’s plan is OK.
In the real world, tariffs are complicated. The major retailers, like Lowe’s, AutoZone, and Walmart say Trump’s plans will increase prices. That means that the tariffs will increase prices, or they will give wholesalers and retailers an excuse to raise prices. Take your pick.
Here’s a tutorial on how tariffs work and why they could be very bad if taken to the extremes Trump promised during the campaign.