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Election 2024

More tariffs may be coming under Trump

by Kristin Schwab
Nov 6, 2024
Here's what tariffs on goods from China and elsewhere have already meant for businesses and consumers since his first term.
In the past, tariffs have raised prices for American consumers and businesses.
Anthony Kwan/Getty Images
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Election 2024

What to know about Harris and Trump’s tariff campaign promises

by Jordan Mangi
Nov 4, 2024
American consumers bear the brunt of tariffs — despite what the former president has said on the campaign trail.
Former president Donald Trump speaks at a campaign event in Raleigh, North Carolina, the day before the 2024 election. At this rally, Trump announced that if elected he would impose tariffs on goods from Mexico to pressure the nation into securing the border it shares with the U.S.
Ryan M. Kelly/AFP via Getty Images
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Business reactions to Biden Administration tariffs vary widely

by Sabri Ben-Achour
Jun 26, 2024
Some businesses say the new tariffs will put them on a level playing field with Chinese exporters. Others see little advantage.
Biden is keeping many Trump-era tariffs and introducing new ones, including lithium ion batteries, electric vehicles and feeding tube parts. 
Spencer Platt/Getty Images
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How new China tariffs could affect prices for U.S. business owners, consumers

by Samantha Fields
May 14, 2024
When tariffs increase, costs often go up for business owners, who often then pass some of those increased costs along to consumers.
The Biden administration worries that importing Chinese EVs will hurt U.S. manufacturers, said Howard Gleckman with the Urban-Brookings Tax Policy Center.
Mandel Ngan/AFP via Getty Images
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The U.S. exports more petroleum than it imports. So why are we importing at all?

by Caleigh Wells
May 13, 2024
It's largely about the chemistry of the oil and the mechanics of the refineries. In many cases, importing foreign crude is cheaper.
An oil pumpjack in Texas. Importing foreign crude oil is often cheaper for the United States.
Brandon Bell/Getty Images
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The fallout from a strong dollar

by Mitchell Hartman
Apr 29, 2024
U.S. exports become more expensive overseas, but imported goods become cheaper here in the U.S.
A stronger dollar makes imported goods cheaper, meaning American consumers can buy more stuff.
Matt Cardy/Getty Images
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Import prices rose more slowly in February. That could help bring down inflation.

by Justin Ho
Mar 15, 2024
The Labor Department reported that the price of imported goods rose 0.3% in February compared to 0.8% the month before.
Prices at the import level can affect prices that show up in other inflation data.
Julia Nikhinson/AFP via Getty Images
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Americans bought fewer Chinese imports in 2023, but Chinese exporters aren't necessarily hurting

by Justin Ho
Feb 8, 2024
We bought more imports from Mexico — and Chinese companies have been investing heavily there.
U.S. imports from China. were down more than 20% in 2023 compared to the previous year.
Spencer Platt/Getty Images
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The dollar's falling back to Earth as other countries raise their own interest rates

by Justin Ho
Aug 22, 2023
A year ago, U.S. exporters were complaining that the dollar was too strong. Not anymore.
A weaker U.S. dollar could help companies that export, while importers might have to pay more for the products they bring in.
Adem Altan/AFP via Getty Images
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Falling import prices are good news in the fight against inflation

by Justin Ho
Jul 14, 2023
It's mostly down to the falling price of oil, but the ingredients and materials manufacturers use are getting cheaper too.
"Lowered prices for imported inputs are going to show up as lowered prices for domestically produced goods," says economics professor Robert Johnson of Notre Dame.
Brandon Sloter/Getty Images
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