Anthony Labruna - Reciprocal Tariffs

President Trump is set to unveil what he has been calling "reciprocal tariffs" — taxes on imported goods from a broad range of countries aimed at penalizing them for their trade barriers.  It's a push he is branding as "Liberation Day," promising it will bring in foreign tariff revenues to be put toward U.S. tax cuts and deficit reduction, and spur a renaissance in U.S. manufacturing.  But the pledge has glossed over the pain expected to be felt by U.S. consumers who economists expect will end up paying higher prices — and by U.S. farmers and exporters targeted for retaliation by other countries.  Some U.S. manufacturers will be hurt by higher costs for imported materials. And mainstream economists are skeptical that the tariffs will bring in as much revenue as Trump has promised. Executive Director at American Principles Project ANTHONY LABRUNA