President-elect Donald Trump has promised a major escalation of the nation’s tariffs. Trump has proposed tariffs of between 60% and 100% on Chinese goods, and a tax of between 10% and 20% on every product imported from all U.S. trading partners. Economists widely forecast that tariffs of this magnitude would increase prices paid by U.S. shoppers, since importers typically pass along a share of the cost of those higher taxes to consumers.
“This will directly impact people’s pocketbooks,” Rob Handfield, a Poole professor of supply chain management, told ABC News.
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