What are tariffs and could Trump’s plans backfire? | Start Here

Donald Trump has promised to introduce a range of new tariffs on imports to the US when he takes office in January. What exactly are tariffs? Why is Trump so keen on them? And why do some people think his plans could backfire and hurt the US economy? #AJStartHere with Sandra Gathmann explains. Chapters: 01:20 - Why should we care about tariffs? 01:45 - What are tariffs? 02:30 - Why tariffs were unpopular for a long time 02:42 - Why do governments use tariffs? 04:36 - Who ultimately pays for tariffs? 06:00 - Using tariffs to protect domestic industries 06:50 - The hidden costs of tariffs 07:55 - Tariffs as a political tool 08:20 - China, the WTO and the impact on US manufacturing 10:12 - How Trump’s tariffs on Mexico, China and Canada could hurt the US economy 12:20 - Risk of retaliatory tariffs and a trade war This episode features: Scott Lincicome | Vice President, General Economics, Cato Institute Alan V. Deardorff | Emeritus Professor of Economics & Public Policy, University of Michigan Bethany McLean | Journalist & Author Christopher Tang | Distinguished Professor, UCLA Anderson School of Management You can find all Start Here episodes here: https://bit.ly/3o0BEIW Subscribe Al Jazeera so you don’t miss future episodes: http://bit.ly/AJSubscribe Follow Sandra Gathmann on Instagram and X: @SandraGathmann #TrumpTradeWarnings #USChinaTariffs #CanadaTrade #MexicoTariffs #TradeWarFears #TrumpPolicies #GlobalTrade #TariffThreats #StartHere #AlJazeeraEnglish