President Trump warned of steep tariffs on Canada, Mexico, and China to pressure them into addressing illegal immigration and drug trafficking. Economists are concerned these tariffs could lead to inflation and slow economic growth. The administration is using tariffs to secure political and economic concessions from other nations, as the February 1st deadline approaches. If imposed, these tariffs could lead to retaliatory measures from Canada and Mexico, raising consumer prices in the U.S. across several sectors. Economists suggest that if tariffs are enacted, they will likely affect consumers and businesses across the U.S. and could harm trade relationships with critical allies.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02President Trump warned of steep tariffs on Canada, Mexico, and China to pressure them
00:06into addressing legal immigration and drug trafficking. Economists are concerned these
00:11tariffs could lead to inflation and slow economic growth. The administration is using tariffs to
00:16secure political and economic concessions from other nations as the February 1st deadline approaches.
00:21If imposed, these tariffs could lead to regulatory measures from Canada and Mexico,
00:25raising consumer prices in the U.S. across several sectors. Economists suggest that if
00:30tariffs are enacted, they will both likely affect consumers and businesses across the U.S.
00:35and could harm trade relationships with critical allies.
00:38For all things money, visit Benzinga.com slash GSTV.