A Walton College economist Mervin Jebaraj doesn’t see much upside to tariffs that President Donald Trump says he plans to impose.
On Thursday (March 8), Trump pulled the trigger on tariffs for steel and aluminum imports. The President’s order places a 25% tariff on steel imports and a 10% tariff on aluminum imports, and created exemptions for imports from Canada and Mexico during the renegotiation of the North American Free Trade Agreement.
Jebaraj, appearing on this week’s edition of Talk Business & Politics, said consumers are likely to see higher prices for many goods. However, the companies that make those goods could eat the input costs, but that would undermine recent corporate tax cuts.