President Trump’s proposed tariffs on Canada and Mexico have raised alarms among economists. While Trump claims these tariffs will bolster the U.S. economy, experts suggest they could lead to inflation and detrimental effects on production. The uncertainty surrounding these tariffs has led to stock market fluctuations and bipartisan criticism.

In a recent address, President Trump reiterated his commitment to using tariffs, stating a 25% tariff on Canada and Mexico and a 10% tariff on China. This strategy raises concerns among economists regarding its potential effects on the U.S. economy. The stock market reacted negatively to the announcement, although there were some rebounds later.

The implementation of tariffs on Canada and Mexico has drawn significant concern from economists, with predictions that prolonged tariffs could trigger a recession. While the administration believes in economic growth through these measures, experts emphasize the potential negative impacts on prices and production, underlining the need for careful consideration in U.S. trade policy.

Original Source: www.cbsnews.com