Key Points
- President Donald Trump is imposing a 25% tariff on Canada and Mexico and a 10% tariff on China starting on Saturday, the White House said.
- Tariffs will likely result in higher prices for U.S. consumers, both directly and indirectly, economists say.
- Tariffs are a tax on foreign imports that are paid by the U.S. businesses importing those products. They will likely pass those costs to customers, economists explain.
