From Washington: How Will Tit-For-Tat Tariffs Trickle Down To Consumers?

This week, Treasury Secretary Scott Bessent announced that over 75 countries are seeking trade negotiations with the United States following last week’s announcement of President Trump's sweeping tariff plan. China, however, is missing from that list. The White House responded to China's retaliatory tariffs on U.S. goods by imposing a 145% tariff on Chinese imports - but what do the tit-for-tat tariffs mean for American markets and consumers? Research Fellow at the Heritage Foundation's Center for the Federal Budget EJ Antoni discusses the timeline for price increases and explains the importance of shrinking China's sphere of influence. Pres...